News Articles for CIMIC Group

Long-running negotiations between CPB Contractors and the state government have resulted in the CIMIC Group subsidiary signing a $47.9 million contract for the New Lord St project at Ellenbrook.

Construction major CIMIC Group has reaffirmed its full-year profit guidance after lifting third-quarter profit by 20 per cent.

Mining contractor Barminco has announced the recruitment of Thiess executive general manager Paul Muller as its new chief executive, succeeding Peter Stokes who resigned last month.

Construction and contract mining giant CIMIC Group has rewarded shareholders with a 25 per cent increase in dividends, as revenue growth in all of its core businesses contributed to a 22 per cent rise in half-year profit.

SPECIAL REPORT: Perth companies Macmahon Holdings and ASG Group have illustrated how contested takeover deals can deliver unexpected outcomes.

Macmahon Holdings chairman Jim Walker said the contract miner would focus on executing its growth plans after shareholders voted overwhelmingly today in support of a tie-up with Indonesian company PT Amman Mineral Nusa Tenggara (AMNT).

Spanish-controlled CIMIC Group has backed away from its former takeover target Macmahon Holdings, selling its 23.6 per cent stake in the Perth company for $46.8 million.

CIMIC Group subsidiary Thiess will continue operating at Fortescue Metals Group's Solomon hub under a $650 million contract extension awarded today.

Fortescue Metals Group, Chevron and Rio Tinto have announced six new deals with indigenous businesses and charities, with the winners including Pilbara contractor Wirlu-murra Yindjibarndi Enterprises and Perth stationery supplier Kulbardi.

The state government has awarded three new roads projects to the contractors that had been working on the Roe 8 development, while also confirming the net cost of abandoning the latter project will be about $45 million.

Heron Resources has awarded CIMIC Group subsidiary Sedgman a $107 million engineering, procurement and construction contract for a processing facility at its Woodlawn zinc-copper project south of Sydney.

Construction and contract mining giant CIMIC Group's quarterly profit has jumped 23 per cent and the company says it has solid pipeline of potential projects and opportunities to expand its mining and mineral processing activities.

SPECIAL REPORT: The mergers and acquisitions market was eventful in the March quarter, with Chinese and private equity investors to the fore, multiple WA businesses on the block, and a surprise advisory switch on a key takeover.

Premier Mark McGowan has officially marked the beginning of the reversal process for the $440 million Roe 8 highway extension project, with a renegotiation process between Main Roads and the project's proponents set to begin.

Shares in Carnegie Clean Energy jumped 23 per cent today, with the company likely to receive financial support for an Albany wave project from the newly elected state government, while environmental activists are already putting pressure on uranium miners.

Ngarda Civil & Mining, a pioneering indigenous contractor that employed more than 300 people at its peak, is being wound up, though curiously the listed company that owns a 50 per cent stake is still claiming Ngarda is a big employer.

Macmahon Holdings' second-largest shareholder, Forager Funds Management, has increased its stake in the Perth company by securing $10.6 million worth of shares.

The Takeovers Panel has declined to look into construction giant CIMIC Group's claim that takeover target Macmahon Holdings' target statement was misleading and deceptive.

Spanish-controlled CIMIC Group has stood its ground over its Macmahon Holdings takeover play, telling the market today it would not lift its offer price despite the target entering into a counter-agreement with an Indonesian miner.

CIMIC Group's takeover bid for mining services provider Macmahon Holdings has become more complicated after Macmahon signed a heads of agreement that could give Indonesian miner Amman Mineral Nusa Tenggara a 44 per cent stake in the company.

SPECIAL REPORT - MINING SERVICES: Higher commodity prices and investment to maintain iron ore volumes could help lift mining contractors out of the doldrums after several tough years. Click through to see this and links to four other feature stories.

Macmahon Holdings has called out CIMIC Group for what it says is a low-ball takeover bid, saying the Spanish-controlled company should be aware of the improving market for mining services.

Macmahon Holdings has been chosen by an Indonesia-based company to asses options to expand a copper-gold mine, and has been named preferred contractor under a three-year term if plans to expand go ahead.

Sydney-based property fund manager and investment group CorVal has made a big acquisition in Western Australia, buying Northbridge office building WorkZone East from Charter Hall in a $68.2 million deal.

Construction and contract mining company CIMIC Group has flagged a boost in annual profit of up to 21 per cent in 2017 after delivering a solid rise in profits for the year just ended.

A subsidiary of Spanish-controlled CIMIC Group will build the final stage of the $1.12 billion Northlink WA roads project, with the state government awarding the last unassigned portion of work today.

Macmahon Holdings has criticised CIMIC Group's proposed $174 million takeover offer, saying its preliminary view was that it does not represent fair value of the business, and has told its shareholders to take no action.

Construction giant CIMIC Group has proposed to acquire all the shares it doesn't own in Perth-based Macmahon Holdings, with the deal valuing the target at about $174 million.

Primary Health Care boss Peter Gregg will face charges of falsifying accounts during his time as an executive at construction firm Leighton Holdings (now CIMIC Group).

The Roe 8 road project will be cancelled if the Labor Party wins the upcoming state election, opposition leader Mark McGowan said today, even though the government has already signed a contract for construction, with $236 million of funding to be re-allocated to three alternative roads.

Law firm Gilbert + Tobin is the latest company in Perth to shift address, as firms with expiring leases take advantage of the most tenant-friendly market in 25 years.

The majority of UGL's directors are recommending the engineering group's shareholders accept Spanish-controlled construction giant CIMIC Group's $524 million takeover bid.

Adolfo Valderas has taken over as the new chief executive of CIMIC Group, which is on track to deliver a full-year net profit of at least $520 million.

Sybrandt Van Dyk has announced his resignation as chief executive of Macmahon Holdings, with general manager of surface mining Michael Finnegan to succeed him as head of the local contractor.

Work will start on the controversial $540 million Roe 8 highway extension project before the next state election, with a consortium led by CIMIC Group to be awarded a contract for the project in the coming days.

Spanish-controlled construction giant CIMIC Group has launched a $524 million takeover bid for its ASX-listed rival UGL.

Former Sedgman manager Luke Graham has been appointed as chief executive and managing director of mineral sands miner Strandline Resources.

CIMIC Group has launched legal action in the United States against Chevron over cost blowouts on jetty and marine structures it built at the Gorgon LNG project on Barrow Island.

Construction firm CIMIC Group has booked a net profit for the first six months of its fiscal year of $265.2 million - up 3.1 per cent on the result a year earlier.

Two very different Perth companies, tech start-up Pointerra and precast concrete manufacturer WestStar Industrial, have begun trading on the ASX today after completing their respective reverse takeovers.