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Vinci Concessions is the least well-known arm of the French construction giant in the UK, but that could soon change. Concessions chief executive David Azéma tells Helen McCormick how he plans to compete with the biggest names in UK construction.
French construction giant Vinci has something of an image problem in the UK, and its concessions arm is no exception. This may change during 2006, as the company is setting its sights on some of the UK's biggest and most exciting projects, including some of London's Olympic infrastructure.
The sheer size of the Vinci group and its decentralised management structure mean that it struggles to maintain a unified image. Formed in 2000 by the merger between Société Générale d'Entreprises (SGE) and French construction group GTM, Vinci is organised as an international network of 2,500 profit centres.
The company is now the largest player worldwide in construction, concessions and related services. In 2004, its turnover was £13.3bn.
In the UK, Vinci's business streams - concessions, energy, roads and construction - operate through six subsidiaries in addition to Vinci Concessions: Ringway, Norwest Hoist, Lee Beesley, Vinci Park UK, Cofiroute UK and Vinci Construction Grands Projets.
The profile of the group is not high, but the concessions arm is now trying to beef up its forward order book.
Global standing
Internationally, Vinci Concessions is one of the largest concessions companies of its kind, constructing and managing parking lots, toll roads and airports.
Roads is its core sector - it has a two-thirds stake in Cofiroute, France's only private toll road operator, and owns ex-state-controlled Autoroutes du Sud de la France (ASF) - but its portfolio of concessions encompasses projects as varied as Portugal's Vasco da Gama bridge and the Stade de France, in which it owns a share of 67%.
It is perhaps the least visible part of the Vinci group in the UK, though its portfolio includes the Newport bypass, the Severn toll crossing, for which it built one bridge and operates two, plus a management contract for the Dartford Crossings in Kent, in conjunction with Jacobs-Babtie. In addition it operates a number of car parks.
The plan now, according to David Azéma, chief executive of Vinci Concessions, is to use that experience, together with...