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Civil contracting company Fulton Hogan has tied the knot with one of Australia’s largest contracting, engineering and services providers, John Holland.
The five-year term joint venture, which will be headed by Fulton Hogan’s executive manager – infrastructure, Brian Kirtlan, is set to benefit both contracting giants.
Fulton Hogan offers its resources with established geographic presence and relationships, in exchange for John Holland’s specialist engineering expertise in areas such as rail, tunnelling, power and energy and resources.
John Holland group managing director, Glenn Palin, said the agreement reflects the company’s ongoing strategy to develop new partnerships with established construction businesses in offshore markets.
“We look forward to working closely with Fulton Hogan to develop new opportunities in the expanding New Zealand construction market.”
Fulton Hogan managing director, Nick Miller, said the companies plan to target projects in tunnelling, rail, power, communications and minerals processing over the next five years.
“This strategic partnership provides a new level of competition and skill set for the New Zealand infrastructure sector,” said Mr Miller.
Fulton Hogan over the past year had revenue growth of 16%, reporting a consolidated operating surplus of $92.5million, down approximately 8% on previous year.
The company said the result was due to reaching agreement to buy-back Shell’s shareholding over the coming four years, and the full acquisition of Pioneer Road Services in Australia.
John Holland has been in the business for 60 years; it currently employs more than 7,000 people across Australia.
Fulton Hogan, which is 15 years older than its new partner, employs 5100 people in more than100 locations throughout Australia and New Zealand.