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Civil Engineering in the news today - Friday 23 January 2009

Shares in rail maintenance group Jarvis plunged 42% to 5p yesterday after a sudden cutback in business with Network Rail put its future in doubt...

...Jarvis, worth just £18.3M after the fall, was hit by Network Rail's announcement that it was deferring some track renewal work this year while it waits for new equipment - The Guardian

An arts centre that cost £60M of public money may be closed months after opening because of technical and financial problems. The Public Arts Centre in West Bromwich contains a National Lottery-funded gallery that has yet to open, more than six months after its inauguration last June - The Daily Telegraph

Housebuilder Oakdene Homes is on the brink of collapse after it failed to reach an agreement with lenders over new debt terms. The company, which is listed on Aim, announced in September that it had breached banking covenants and was relying on a temporary facility as it tried to negotiate new lending terms - The Daily Telegraph

Builders, carpenters and DIY enthusiasts descended on the shores around east Kent yesterday for a spree that one of them termed "beachcombing". Miles of beach between Dover and Margate were turned into a giant lumberyard as hundreds of tonnes of timber lost overboard from a Russian cargo ship on Monday washed ashore - The Times

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