International construction company, Webuild, has acquired Western Australia-based engineering and construction solutions company, Clough Group.
On 16 February Webuild acquired 100-per-cent of the ownership of Clough Group in Australia and Papua New Guinea.
The final acquisition compromises Clough’s organisation, offices, trademarks credentials, business references, senior management and office personnel – along with more than $6.2 billion worth of projects in backlog.
Clough CEO and Managing Director, Peter Bennett, said the agreement was a fantastic outcome for the continued growth of Clough.
“We will now be better positioned than ever to deliver our diverse and significant pipeline, to continue pursuing the innovative and challenging projects our strong history has been built upon, and most importantly, to continue providing solutions to our clients and opportunities to our employees and the community at large,” he said.
The acquisition of Clough’s assets and operations will guarantee the continuity of its most important infrastructure projects being built in Australia and Papua New Guinea.
These projects include the construction of part of the Sydney Metro-Western Sydney Airport project that will connect the city to the new airport, as well as the North East Link of Melbourne’s beltway.
According to Webuild, the combined group will become one of the biggest companies in Australia for the construction of complex infrastructure, with more than 3,000 employees in the country.
In the 50 countries where the combined companies will operate, the workforce will total 83,000.
“Australia is a core market for Webuild with potential construction contracts estimated in excess of €300 billion [approx. $463.5 billion AUD] for the 2022-2025 period,” it said in a statement.
Following the acquisition, Webuild’s order backlog in Australia alone will reach a combined value of $18.5 billion, confirming the group’s focus on markets with a low-risk profile – including Italy, Europe, Australia and the United States.
In other news, A new deal between Team Global Express and Aurizon will reportedly bolster Australia’s capacity to transport goods across the country.
