"The demise of a joint venture partner is generally very painful, and we have scars from previous experience," says Ian Jones, managing director of Galliford Try's water and waste activities. "Imtech [Water, Waste & Energy] going under was major for us but it's been quite interesting in that it almost created the perfect storm for us. "We have long considered the option of creating our own MEICA capability partly to give ourselves a more rounded offering, and partly to make sure we are less at risk with our joint venture partners going belly up. It's a governance issue about being less reliant on MEICA partners." Imtech WWE was a key partner with Galliford Try on Southern Water's AMP6 work, and Jones says working with MEICA partners since privatisation has been a successful business model, taking a collaborative JV approach.
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