Downer EDI plans to merge its Australian and New Zealand infrastructure businesses into one company, Downer Infrastructure.

Around 100 Transfield staff on Auckland’s North Shore have downed tools. The technicians are among around 900 Transfield and Downer EDI staff being offered owner/operator contracts by Visionstream, which is taking over Telecom contract work in the city.

Developers may be going down like flies, finance companies crash and burn, but Downer EDI assured the market this week it is in good fettle.

The construction giant announced that it has secured more than $800 million in contracts in recent months.

The announcement does not mention which contracts have cost Downer losses in recent years (such as its contract in the controversial Momi resort in Fiji).

Cabletalk Ltd has sold its Astute business to Australian company Downer EDI for $5 million, and is looking to sell another subsidiary.

The listed telecommunications company hit problems after its main customer TelstraClear awarded a South Island field services contract to another company, affecting 50 staff and making the rest of Astute's business unsustainable.