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!