The private German investor behind last year's purchase of Perth-based RUC Mining Contractors from Murray & Roberts has revealed an unusual multi-million dollar gain on the deal.
South Africa's Murray & Roberts has foreshadowed a big loss for the past year with most of it attributed to its former Australian subsidiaries Clough and RUC Cementation.
South Africa's Murray & Roberts is poised to regain control of Perth-based RUC Cementation Mining Contractors while selling its majority stake in another local firm, Insig Technologies.
UPDATE: Administrators for Clough have found a new buyer in Webuild, the company that pulled out of a lifeline deal to save the Perth engineer just over a week ago.
Italian contractor Webuild has struck a deal to buy engineering company Clough with a cash payment of just $500,000 and cancellation of a big inter-company loan.
Murray & Roberts has fuelled speculation it is looking to sell Perth-based Clough by disclosing it is likely to suffer a loss this year and is reviewing “strategic options”.
Perth-based engineering company Clough has dismissed speculation that it has any funding issues or was at odds with the federal government over the Snowy 2.0 hydroelectricity project.
A joint venture between Perth-based companies Clough and RUC Cementation Mining Contractors, which are both owned by South Africa's Murray & Roberts, has secured two mining contracts in Mongolia.
Engineering group Clough has suffered from a massive fall in operating profit for the 2017 financial year, as revealed by South Africa-based parent company Murray & Roberts.
A local subsidiary of South African company Murray & Roberts is set to be awarded an underground mining services contract for Dacian Gold's Mt Morgans project near Laverton.
Yan Lui has resigned from his positions of chief executive officer and Trinidad general manager at Range Resources. Mr Liu will remain on the board of director as a non-executive director.
Fortescue Metals Group has appointed the BAM Clough joint venture to design and construct a fifth iron ore loading berth at its Anderson Point facility in Port Hedland.
SPECIAL REPORT: The past 12 months have been tough for WA's corporate finance professionals, but there is cautious optimism that 2014 will be a different story.
Perth engineering firm Clough has ceased trading on the ASX after securing the green light from shareholders and the Federal Court to proceed with a $462 million takeover by South African group Murray & Roberts.
When Forge Group announced this week it had won a $1.47 billion Roy Hill construction contract it was with new joint venture partner Duro Felguera, from Spain, rather than its former alliance partn
Forge Group has shrugged off tightening conditions in the resources sector and is on the lookout for acquisitions after reporting a net profit jump of nearly 30 per cent on the back of a record revenue performance.
South African engineering and construction group Murray & Roberts has made a $430 million offer to win full control of Perth-based Clough, in which it already holds more than 60 per cent of the
