Grenfell contractor Rydon makes millions via public sector contracts

Rydon is the company that led the refurbishment of Grenfell Tower during 2015-16 which resulted in external cladding being installed onto the face of the tower block. Metropolitan Police have launched a criminal investigation into the fire and have said that the cladding and installation fitted at Grenfell had failed “all safety tests”.

Rydon has spent the last 40 years developing its business via public sector contracts. Thank you to Trevor Rayne from the newspaper Fight Racism, Fight Imperialism who has discovered more information about this little known British-based company. We have reprinted some of his research below.

Rydon employs over 750 staff and paid out £8.4m to shareholders in 2016. Rydon’s chief executive is Robert Bond who received a salary of £424,000 last year and as a shareholder received an estimated £1.4m in dividend payments.

Other Rydon shareholders include two Jersey firms registered in the offshore tax haven of Jersey, including one set up by Lloyds Bank. HBOS put up money for a management buyout in 2005. HBOS is now owned by Lloyds.

  • In 1997 Rydon was registered as a provider to housing associations, local authorities, NHS Trusts and the education sector.
  • 2002 Rydon entered the Public Private Partnership market with the PFI scheme for the Chalcots Estate in Camden.
  • 2004 Rydon secured the largest mental health PFI contract in the country for the Avon and Wiltshire Mental Health Partnership NHS Trust.

The Royal Borough of Kensignton and Chelsea are also under intense scrutiny due to negligence over fire safety standards as the Grenfell Action Group blog painstakingly points out. Focus E15 campaign will be supporting the forthcoming demands of this housing campaign.

People of East London!  Join Focus E15 on the street stall on Saturday July 1st at 12pm – 2pm in Stratford outside Wilkos to demand:

PUBLIC HOUSING NOT PRIVATE PROFIT
Social Housing, not social cleansing!
Justice for Grenfell!

 

 

Advertisements

5 thoughts on “Grenfell contractor Rydon makes millions via public sector contracts

  1. Unfortunately, there is more contributing factors to the incident although the Cladding was the main factor for the spread there are other factors that have to be considered. Just posted an article after the continued actions of other councils to evacuate the tower blocks last Friday. Actually did not want to highlight the Grenfell Tower in the photos, as really do not want to offend any of the victims. But the article gives an overview

    https://wordpress.com/post/homelessglobalspectator.wordpress.com/123

    Liked by 1 person

    1. Hi, thank you, we could not get the link to work. This blog post is certainly not saying that the cladding was the only factor – it is providing more background information about what kind of company was involved and how much money they make. We feel that this is also part of the bigger picture. Can you resend your link as we would like to read it. Thank you for reading our blog

      Like

  2. An excellent informative blog. The focus on profit before people especially people come across well. I also get the feeling of the ominous spectre of social cleansing comeing to the fore-I share too the suspiscions of many that the fatality toll from Grenfell could well rise. I belive over a hundred local authorities have used unsafe materials-profit is clearly top of many agendas in all this. Well done one and all keep fighting the good fight and let your righteous anger rage

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s