REG - Taylor Wimpey PLC - Fire Safety Pledge

Taylor WimpeyAnnouncement

05/04/2022 15:30

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RNS Number : 3675H  Taylor Wimpey PLC  05 April 2022

 

5 April 2022

Taylor Wimpey plc

 

Fire Safety Pledge

 

Pete Redfern, Chief Executive, said:

"Today we confirm that Taylor Wimpey has signed up to the Government's fire
safety Pledge for Developers. Our priority has been to ensure that customers
in Taylor Wimpey buildings have a solution to cladding remediation. We took
early and proactive action, committing significant funding and resources to
address fire safety and cladding issues on all Taylor Wimpey affected
apartment buildings."

Background and additional commitments

Taylor Wimpey has contributed constructively to Government discussions on fire
safety, both individually and through the Home Builders Federation (HBF).

The existing Taylor Wimpey provisions commit funding to bring all affected
apartment buildings over 11 metres that we have completed in the last 20 years
(from January 2021) up to current EWS1 standard, irrespective of legal
ownership.

The Pledge now further extends the period to 30 years, covering all buildings
constructed by Taylor Wimpey since 1992.

In addition, and aligned with the Pledge, we will reimburse any funds
allocated or used for Taylor Wimpey buildings over 18 metres from the Building
Safety Fund, being the fund that the sector already contributes to via the
Residential Property Developer Tax.

We estimate that these additional commitments will result in a further
provision of c.£80 million for Taylor Wimpey, bringing the total amounts we
have provided for fire safety remediation works to c.£245 million.

We will continue to work with building owners, management companies and
leaseholders and remain committed to resolving these issues as soon as
possible for our customers. We will maintain a constructive dialogue with
Government aimed at achieving a satisfactory resolution to remaining fire
safety issues. We continue to believe this is an industry-wide issue involving
many types of organisations and therefore needs an industry-wide solution.

 

-Ends-

For further information please contact:

Taylor Wimpey plc
 
Tel: +44 (0) 1494 885656

Pete Redfern, CEO

Chris Carney, Group Finance Director

Debbie Archibald, Investor Relations

Andrew McGeary, Investor Relations

 

Finsbury
 
TaylorWimpey@Finsbury.com

Faeth Birch

Anjali Unnikrishnan

James Gray

 

Notes to editors:

Taylor Wimpey plc is a customer-focused homebuilder operating at a local level
from 23 regional businesses across the UK. We also have operations in Spain.

For further information please visit the Group's website:
www.taylorwimpey.co.uk/corporate (https://www.taylorwimpey.co.uk/corporate)

Follow us on Twitter @TaylorWimpeyplc

For enquiries from building owners and management companies relating to
specific buildings, please contact cladding@taylorwimpey.com
(mailto:cladding@taylorwimpey.com)

Leaseholders should continue to contact their management companies with any
enquiries.

 

 

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