Laing given chance to be Wimpey &‘premium brand&’

Nov. 1, 2002
The sale of Laing Homes to George Wimpey will allow the firm to fully develop its potential within a company dedicated to housebuilding, according to Wimpey boss Peter Johnson.<p></p><p>Johnson moved to allay fears that Laing would be swallowed up for its land, stressing that the purchase was very different to the deal that saw Wimpey absorb Alfred McAlpine Homes last year. </p><p>&amp;“Laing will be the premium brand of Wimpey,&amp;” said Johnson. &amp;“They will be allowed to develop their business and realise their potential in a company that is dedicated to housebuilding and wants to be the UK&amp;’s number one.&amp;”</p><p>After months of speculation, Wimpey bought Laing Homes last month for &amp;£297 million, a lower price than expected. Its bid beat that of a proposed management buy-out led by Laing Homes chief executive Steve Lidgate and his senior management team. Lidgate is staying with the Laing Group while Paul Healey, previously joint md, has been appointed by Johnson to run Laing Homes reporting to the main Wimpey board.</p><p>Healey is currently undertaking a review of the company and its operations and no announcement has yet been made on job losses. But Wimpey expects annual cost savings of &amp;£8 million. </p><p><b>Healey said he would …

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