Civmec Explained

Civmec Limited
Type:Dual-listed public company
Traded As:
Foundation:1990
Location City:Henderson, Western Australia
Key People:James Fitzgerald (Chairman)
Pat Tallon (CEO)
Industry:Construction
Engineering
Shipbuilding
Revenue: $392 million (2019–2020)
Operating Income: $38.5 million (2019–2020)
Net Income: $17.5 million (2019–2020)
Assets: $600.3 million (June 2020)
Equity: $263.1 million (June 2020)
Num Employees:circa 2,000 (June 2020)
Subsid:Forgacs Marine & Defence
Homepage:www.civmec.com.au
Footnotes:[1]

Civmec Limited is a dual-listed Australian-Singaporean public company involved in the construction, engineering and shipbuilding industries. Headquartered in Perth, Western Australia, it specialises in fabrication and construction for the oil and gas and mining industries and has been involved in a number of significant Australian mining and civil engineering projects and has been selected to build a number of vessels and facilities for the Royal Australian Navy.

History

Civmec was established in 1990, becoming part of the VDM Group in 2006.[2] In 2009, it was sold in a management buyout.[3] It was listed on the Singapore Exchange in 2012,[4] and became a dual-listed company when listed on the Australian Securities Exchange on 22 June 2018.[5]

Civmec's main facilities are in Henderson and Newcastle and it has satellite offices in Gladstone and Singapore.[6] The Henderson headquarters sits on 120,000 square metres of land, and its fabrication plant is the largest in the southern hemisphere.[7] An expansion to the shipbuilding and maintenance facility in 2018 and 2019 resulted in an undercover facility with 53,000 square metres of space, which is the largest in Australia.[8]

Up until 2015, Civmec had largely concentrated on mining and energy-based projects, holding engineering contracts for Shell Australia's Prelude floating liquefied natural gas facility, Chevron Corporation's Gorgon and Wheatstone gas facilities, Inpex's Ichthys gas field and Woodside Petroleum's Persephone project. Around this time, although the company's mining-based contracts continued, the company diversified its work and moved to infrastructure-based projects. Since this time it has undertaken the construction of a number of significant infrastructure projects in Perth as well as commenced military projects.

In November 2015, Civmec agreed terms to purchase Forgacs Marine & Defence.[9] The company saw the purchase as an opportunity to set up a facility on Australia's east coast, and to pursue opportunities to enter into military contracts for submarines, offshore patrol boats and frigates for the Royal Australian Navy (RAN).[10] [11] The purchase, which included the Forgacs Shipyard in Tomago, New South Wales, was completed in February 2016 and resulted in over 150 job losses.[12]

In 2018, Civmec commenced building ten of the Arafura-class offshore patrol vessels for the RAN,[13] [14] and in 2020 commenced building the RAN's new submarine rescue at its Henderson facility, which will include a launch and recovery system, hyperbaric treatment unit, and maintenance training and testing infrastructure with a seven-metre deep pool. This facility is due for completion in February 2021.[15]

Notable projects

Notes and References

  1. Web site: Annual Report 2019–2020 . Civmec . Civmec Limited . 10 January 2021 . 11, 91, 92.
  2. News: Hoey . Trevor . VDM busily making own road to growth . 10 January 2021 . . Fairfax Media. 12 July 2006.
  3. News: Cooper . Julie . There is no substitute for hard work.: Pat Tallon . 10 January 2021 . CEO Magazine . The CEO Magazine . 10 June 2020.
  4. News: Williams . Peter . Singapore listing proves windfall for Civmec . 10 January 2021 . . West Australian Newspapers Limited . 18 April 2012.
  5. News: Williams . Peter . Civmec completes ASX listing process . 10 January 2021 . The West Australian . West Australian Newspapers Limited . 22 June 2018.
  6. Web site: Office Locations . Civmec . Civmec Limited . 10 January 2021.
  7. News: Kakulas . Vetti . Perth engineering company Civmec owes success to change in focus away from mining . 10 January 2021 . . West Australian Newspapers Limited . 9 September 2015.
  8. News: Harvey . Ben . Civmec’s massive expansion shipshape for the navy . 10 January 2021 . The West Australian . West Australian Newspapers Limited . 30 July 2019.
  9. News: Durrant . Patrick . Newcastle shipbuilder Forgacs to be acquired by Civmec . 10 January 2021 . Australian Defence Magazine . Yaffa Media . 18 November 2015.
  10. News: Kirkwood . Ian . West Australian company Civmec unveils plans for the Forgacs shipyard at Tomago . 10 January 2021 . . Australian Community Media . 28 April 2016.
  11. News: Civmec keen to build subs in WA . 12 January 2021 . Business Spectator (The Australian) . AAP . Nationwide News Pty Ltd . 26 September 2015.
  12. News: Marchese . David . Forgacs jobs lost as Civmec takeover finalised . 10 January 2021 . . Australian Broadcasting Corporation . 3 February 2016.
  13. Web site: Arafura Class OPV . . 27 December 2020.
  14. News: Hastie . Hamish . Perth company joins Germans in southern suburbs shipbuilding project . 9 January 2021 . WA Today . Nine Entertainment Co . 29 May 2018.
  15. News: CIVMEC starts construction on new $12.5m submarine rescue facility in Henderson . PerthNow . West Australian Newspapers Limited . 4 June 2020.
  16. News: Staff Reporter . Tender win for Civmec builders . 10 January 2021 . Fremantle Gazette . West Australian Newspapers Limited . 10 March 2015.
  17. Web site: Mischin . Michael . Michael Mischin . Media Statements: WA company secures $73m stadium contract . wa.gov.au . . 10 January 2021 . 4 March 2015 . 12 January 2021 . https://web.archive.org/web/20210112123709/https://www.mediastatements.wa.gov.au/Pages/Barnett/2015/03/WA-company-secures-$73m-stadium-contract.aspx . dead .
  18. News: Leow . Annabel . Civmec launches legal action over Perth Stadium contract . 10 January 2021 . . Singapore Press Holdings Ltd . 22 February 2019.
  19. News: Perpitch . Nicolas . Civmec confident Swan River pedestrian bridge can be built by March 2018 . 10 January 2021 . ABC News . Australian Broadcasting Corporation . 8 August 2017.
  20. News: Rimrod . Fran . Perth Stadium footbridge will be 'as big as Sydney Harbour Bridge' . 10 January 2021 . . . 15 October 2017.
  21. Media Statement . Roger . Cook . Roger Cook (politician) . Rita . Saffioti . Rita Saffioti . Stephen . Dawson . Stephen Dawson (politician) . Builder Civmec to construct rainbow Perth Kids' Bridge . 2020-12-17 . Deputy Premier and Ministers for Health and Mental Health, Transport and Planning, and Environment, Disability Services and Electoral Affairs . Government of Western Australia . Western Australia . 2021-01-04 . 2020-12-29 . https://web.archive.org/web/20201229140039/https://www.mediastatements.wa.gov.au/Pages/McGowan/2020/12/Local-builder-Civmec-to-construct-rainbow-Perth-Kids-Bridge.aspx . dead .
  22. News: Construction set to start on Perth Children's Hospital bridge . Victoria . Rifici . . Western Suburbs Weekly . 2020-11-23 . 2021-01-06 .

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