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CIMIC Group

CIMIC Group Limited (formerly Leighton Holdings) is an engineering-led construction, mining, services and public private partnerships leader working across the lifecycle of assets, infrastructure and resources projects.

History

Logo used prior to April 2015

Founded in 1949 by Stanley Leighton, Leighton Holdings was first listed on the Melbourne Stock Exchange in 1962.[2] The company formed Leighton Asia, based in Hong Kong, in 1975.[3]

In July 1983 Leighton Holdings, purchased Thiess Contractors, with its major shareholder, Hochtief, becoming a shareholder in Leighton Holdings.[4][5][6] In April 1997, the Welded Mesh structural materials division was sold to Smorgon Steel.[7]

In 2000, Leighton Holdings bought a 70% stake in John Holland; this was increased to 99% in 2004 and 100% in December 2007.[8] Hochtief became a majority shareholder of Leighton Holdings in February 2001.[9]

In October 2013, Fairfax Media alleged that Leighton Holdings had made corrupt payments to Hussain al-Shahristani, Deputy Prime Minister of Iraq, to secure an oil pipeline contract in Iraq and other contracts.[10] Basil Al Jarah, the Iraq country manager for Unaoil, a Monaco-based company allegedly acting for Leighton Holdings, subsequently pleaded guilty to corruption.[11]

By March 2014, Spanish company ACS Group, through its acquisition of a majority shareholding in Hochtief, was the majority owner of Leighton Holdings.[12] In June 2014, Verdes also became chairman of Leighton's executive board.[13]

In December 2014, Leighton Holdings sold John Holland to China Communications Construction for $1.15 billion.[14]

In April 2015, Leighton changed its name to CIMIC Group (abbreviated from Construction, Infrastructure, Mining and Concessions).[15]

In March 2016, CIMIC purchased mining company Sedgman for A$256 million.[16] In December 2016, CIMIC purchased engineering company UGL Limited for A$524 million.[17]

In November 2021, the Ventia services division was spun off with CIMIC retaining a 33% shareholding.[18]

In March 2022, CIMIC was accused of arranging its affairs through the sale of its Middle Eastern business interests to avoid paying workers, subcontractors and suppliers in the region. Fatima Almass Al-Hamad, a judicial guard in Qatar, who was appointed by the court as an administrator of the Qatar business, Leighton Contractors Qatar, described the situation as "a humanitarian disaster".[19]

In April 2022, Hochtief increased its shareholding and commenced action to compulsorily acquire the remaining shares in CIMIC it did not own.[20] Following this, CIMIC was delisted from the Australian Securities Exchange and became a wholly-owned subsidiary of Hochtief.[21]

Structure

CIMIC Group includes the following businesses:[22]

Major projects

Star City Casino in 2007

Major projects undertaken by Leighton Contractors (renamed CPB Contractors in January 2016) include:

References

  1. ^ "Annual Review and Sustainability Report". CIMIC. Retrieved 12 October 2023.
  2. ^ Verrender, Ian (20 March 2014). "Leighton Holdings could face fresh ASIC inquiry into potential write-downs". ABC News. Retrieved 25 February 2019.
  3. ^ "Embroiled in controversy, Leighton Contractors (Asia) has been a familiar name in many of Hong Kong's big infrastructure projects of recent decades". South China Morning Post. 2 February 2019. Retrieved 3 November 2022.
  4. ^ Leighton plans to merge with construction giant Canberra Times 9 June 1983 page 23
  5. ^ Chances for profit curbed, Leighton chairman says Canberra Times 25 October 1984 page 21
  6. ^ Into the 1980s Thiess
  7. ^ Smorgon Steel boosts stocks Australian Financial Review 17 April 1997
  8. ^ "Australia's Leighton acquires 70% in John Holland". Asia Times. 25 January 2000. Archived from the original on 25 September 2000. Retrieved 2 April 2015.{{cite web}}: CS1 maint: unfit URL (link)
  9. ^ "HOCHTIEF secures a majority stake in Leighton Holdings". 1 February 2001. Retrieved 24 August 2021.
  10. ^ "Leighton Holdings accused of paying bribes in Iraq". ABC. 7 October 2013. Retrieved 4 January 2019.
  11. ^ "Guilty plea in London exposes Australian company for alleged corruption". Sydney Morning Herald. 22 July 2019. Retrieved 4 January 2020.
  12. ^ "Hochtief installs own CEO at helm of Leighton, sweetens offer to raise majority stake", Reuters, International, 2014, archived from the original on 14 March 2014, retrieved 30 June 2017
  13. ^ "Leighton CEO appointed executive chairman". Fifth Estate. 11 June 2014. Archived from the original on 14 July 2014. Retrieved 27 December 2014.
  14. ^ "Leighton signs agreement to sell John Holland to CCCC" (PDF). 12 December 2014. Archived from the original (PDF) on 27 December 2014. Retrieved 27 December 2014.
  15. ^ "Leighton to change name to CIMIC in wake of corruption allegations". The Sydney Morning Herald. 20 March 2015. Retrieved 6 May 2015.
  16. ^ "CIMIC makes $256m hostile takeover bid for Queensland's Sedgman". Sydney Morning Herald. 13 January 2016. Archived from the original on 26 February 2019. Retrieved 25 February 2019.
  17. ^ "CIMIC to seize all of UGL after reaching 90pc threshold". Australian Financial Review. 19 December 2016. Retrieved 25 February 2019.
  18. ^ Top 20 Shareholders and Shareholder Distribution Details Ventia 21 November 2021
  19. ^ "Australia's biggest construction company, CIMIC, accused of not paying foreign workers in the Middle East". Australian Broadcasting Corporation. 3 March 2022. Retrieved 3 March 2022.
  20. ^ Compulsory Acquisition of Shares in CIMIC Group Limited following takeover bid Clifford Chance 29 April 2022
  21. ^ CIMIC Group Limited - Suspension from Official Quotation Australian Securities Exchange 6 May 2022
  22. ^ "Our brands". CIMIC. Archived from the original on 20 April 2019. Retrieved 20 April 2019.
  23. ^ Woden Parkway construction, The Canberra Times, Page 10, 19 September 1966
  24. ^ a b c d e "About us: history". Leighton Holdings. Archived from the original on 11 December 2007. Retrieved 27 December 2014.
  25. ^ Tallowa Contract Sets Record Archived 29 March 2016 at the Wayback Machine Leighton News Letter issue 16 August 1972
  26. ^ "Bruce Stadium & National Indoor Stadium Precinct / National Athletics Stadium & National Indoor Sports & Training Centre" (PDF). Australian Institute of Architects ACT Chapter: Register of Significant Architecture. Archived from the original (PDF) on 2 April 2020. Retrieved 4 January 2020.
  27. ^ "Bowen Bridge - Version One - construction of Bowen Bridge - joint venture Leighton Contractors and Candac Ltd - features Bob Hawke opening bridge". Libraries Tasmania. Retrieved 5 January 2020.
  28. ^ Cox, Philip Sutton (2008). Cox Architects and Planners. Images Publishing. p. 224. ISBN 978-1920744076.
  29. ^ "The Dream Becomes Reality". Western Roads. 15 (1). Perth, Western Australia: Main Roads Department: 1. March 1990.
  30. ^ Cox, Philip Sutton (2008). Cox Architects and Planners. Images Publishing. p. 226. ISBN 978-1920744076.
  31. ^ "Leighton to sell $48m stake in casino management company". Sydney Morning Herald. 12 February 2003. Retrieved 3 January 2020.
  32. ^ "List of Current Contracts as at 31/12/96". Hong Kong Airport Core Programme. New Airport Projects Co-ordination Office, Government Secretariat. Retrieved 19 February 2018.
  33. ^ "Olympic Park Rail Station". Sydney Architecture. Retrieved 5 January 2020.
  34. ^ Jewell, Chris; Merrick, Noel (2003). "Modelling of the groundwater impact of a sunken urban motorway in Sydney, Australia" (PDF). RMZ – Materials and Geoenvironment. 50 (1): 229. Archived from the original (PDF) on 24 September 2015.
  35. ^ Malpeli, Gareth (8 March 1999). "Leighton To Build Narrows Bridge". The West Australian. p. 28.
  36. ^ "Introducing the great pyramid of Sydney". Sydney Morning Herald. 4 September 2005. Retrieved 5 January 2020.
  37. ^ "Leighton leads $700m buyout of Cross City Tunnel - Business - Business". Sydney Morning Herald. 20 June 2007.
  38. ^ Westpac Place Leighton Properties
  39. ^ "Perth to Mandurah rail dispute settled". ABC News. ABC. 28 May 2009. Retrieved 5 January 2020.
  40. ^ "North-West Transitways". Jackson Teece. Retrieved 5 January 2020.
  41. ^ "Eagle's Nest Tunnel and Sha Tin Heights Tunnel" (PDF). Government of Hong Kong. Retrieved 5 January 2020.
  42. ^ "Alliance named to build next stage of Eastern Busway". Queensland Government. 23 December 2008. Retrieved 5 January 2020.
  43. ^ "Key Facts". New Perth Bunbury Highway. Southern Gateway Alliance. Archived from the original on 13 October 2009. Retrieved 15 March 2013.
  44. ^ "The Clem Jones Tunnel – An engineering feat". Archived from the original on 6 July 2011. Retrieved 27 December 2014.
  45. ^ "Leighton Abigroup to build Brisbane's Gateway Bridge". Earthmover & civil contractor. October 2006. Retrieved 27 December 2014.
  46. ^ "ABC Headquarters". Southbank Corporation. Retrieved 5 January 2020.
  47. ^ Deer Park - West Werribee Junction Regional Rail Link, Retrieved 4 January 2020
  48. ^ "Leighton Awarded SIL (E) Contracts". Tunneling Journal. 19 May 2011. Retrieved 4 January 2020.
  49. ^ Puddy, Rebecca (9 October 2018). "Royal Adelaide Hospital builder ordered to pay Chinese cladding company almost $2 million". ABC News. ABC. Retrieved 4 January 2020.
  50. ^ "Northern Beaches Hospital nears completion". Infrabuild. 9 April 2018. Archived from the original on 8 August 2020. Retrieved 4 January 2020.
  51. ^ "Leighton team scoops $2.7bn Sydney motorway". Construction Index. 8 June 2015. Retrieved 4 January 2020.
  52. ^ "Financial close reached for Canberra metro rail project". Infra PPP World. 25 May 2016. Retrieved 4 January 2020.
  53. ^ "Getting on with the job: $1.15 billion Tunnelling Contract on North West Rail Link". Transport for NSW. 25 June 2013. Retrieved 17 May 2019.
  54. ^ "John Holland and CPB Contractors JV to build Melbourne's West Gate Tunnel Project". Global Construction. 13 December 2017. Retrieved 17 May 2019.
  55. ^ "The big dig: New Harbour Metro crossing underway". Sydney Metro. 22 June 2017. Retrieved 17 May 2019.
  56. ^ "Cimic Group wins rail and road contracts in Melbourne worth more than $600m". Global Construction Review. 2 October 2019. Retrieved 4 January 2020.
  57. ^ "Parramatta Light Rail Contracts Signed". Government of New South Wales. 20 December 2018. Retrieved 5 January 2020.

External links