CIMIC Group explained

CIMIC Group Limited
Former Name:Leighton Holdings
Type:Subsidiary
Foundation:1949
Founder:Stanley Leighton
Location:North Sydney, New South Wales, Australia
Industry:Construction, Civil engineering
Revenue:A $14.9 billion (2022)[1]
Num Employees:25,500
Subsid:CPB Contractors
Leighton Asia
Broad Construction
Thiess
Sedgman
UGL
UGL Rail
Pacific Partnerships
EIC Activities

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

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. In June 2014, Verdes also became chairman of Leighton's executive board.[12]

In December 2014, Leighton Holdings sold John Holland to China Communications Construction for $1.15 billion.[13]

In April 2015, Leighton changed its name to CIMIC Group (abbreviated from Construction, Infrastructure, Mining and Concessions).[14]

In March 2016, CIMIC purchased mining company Sedgman for A$256 million.[15] In December 2016, CIMIC purchased engineering company UGL Limited for A$524 million.[16]

In November 2021, the Ventia services division was spun off with CIMIC retaining a 33% shareholding.[17]

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".[18]

In April 2022, Hochtief increased its shareholding and commenced action to compulsorily acquire the remaining shares.[19]

In 2022, CIMIC was delisted from the Australian Securities Exchange.[20]

Structure

CIMIC Group includes the following businesses:[21]

Major projects

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

External links

Notes and References

  1. Web site: Annual Review and Sustainability Report. CIMIC. 12 October 2023.
  2. News: Leighton Holdings could face fresh ASIC inquiry into potential write-downs. ABC News. 20 March 2014. 25 February 2019. Verrender. Ian.
  3. News: Embroiled in controversy, Leighton Contractors (Asia) has been a familiar name in many of Hong Kong's big infrastructure projects of recent decades. 2 February 2019. South China Morning Post. 3 November 2022.
  4. https://trove.nla.gov.au/newspaper/article/131848365 Leighton plans to merge with construction giant
  5. https://trove.nla.gov.au/newspaper/article/136923744 Chances for profit curbed, Leighton chairman says
  6. https://web.archive.org/web/20200103100253/https://www.thiess.com/en/about-us/our-history/into-the-1980s Into the 1980s
  7. https://web.archive.org/web/20200422200928/http://www.afr.com/companies/smorgon-steel-boosts-stocks-19970417-k7e4n Smorgon Steel boosts stocks
  8. Web site: Australia's Leighton acquires 70% in John Holland. https://web.archive.org/web/20000925074720/http://atimes.com/bizasia/BA25Aa01.html. unfit. 25 September 2000. Asia Times. 25 January 2000. 2 April 2015.
  9. Web site: HOCHTIEF secures a majority stake in Leighton Holdings. 1 February 2001. 24 August 2021.
  10. Web site: Leighton Holdings accused of paying bribes in Iraq. ABC. 7 October 2013. 4 January 2019.
  11. Web site: Guilty plea in London exposes Australian company for alleged corruption. Sydney Morning Herald. 22 July 2019. 4 January 2020.
  12. Web site: Leighton CEO appointed executive chairman. https://web.archive.org/web/20140714202841/http://www.thefifthestate.com.au/archives/63327/. dead. 14 July 2014. 11 June 2014. Fifth Estate. 27 December 2014.
  13. Web site: Leighton signs agreement to sell John Holland to CCCC . 12 December 2014 . 27 December 2014 . https://web.archive.org/web/20141227113705/http://www.leighton.com.au/__data/assets/pdf_file/0011/30332/1395421.pdf . 27 December 2014 . dead .
  14. Web site: Leighton to change name to CIMIC in wake of corruption allegations. The Sydney Morning Herald. 20 March 2015. 6 May 2015.
  15. News: CIMIC makes $256m hostile takeover bid for Queensland's Sedgman . January 13, 2016 . . 25 February 2019 . 26 February 2019 . https://web.archive.org/web/20190226045956/https://www.smh.com.au/business/cimic-makes-256m-hostile-takeover-bid-for-queenslands-sedgman-20160113-gm4nrs.html . dead .
  16. Web site: CIMIC to seize all of UGL after reaching 90pc threshold. December 19, 2016. Australian Financial Review. 25 February 2019.
  17. https://www.asx.com.au/asxpdf/20211123/pdf/4539q29l927skr.pdf Top 20 Shareholders and Shareholder Distribution Details
  18. News: Australia's biggest construction company, CIMIC, accused of not paying foreign workers in the Middle East . March 3, 2022 . . 3 March 2022.
  19. https://web.archive.org/web/20220510071005/https://www.asx.com.au/asxpdf/20220429/pdf/458gyf9ny53jn9.pdf Compulsory Acquisition of Shares in CIMIC Group Limited following takeover bid
  20. https://www.asx.com.au/asxpdf/20220506/pdf/458sch4vsjzvd8.pdf CIMIC Group Limited - Suspension from Official Quotation
  21. Web site: Our brands. CIMIC. 20 April 2019. https://web.archive.org/web/20190420080621/https://www.cimic.com.au/en/our-services/our-brands. 20 April 2019. live.
  22. http://nla.gov.au/nla.news-article106936520 Woden Parkway construction
  23. Web site: About us: history . Leighton Holdings . 27 December 2014 . dead . https://web.archive.org/web/20071211232850/http://www.leighton.com.au/about_us/history/history.html . 11 December 2007 .
  24. http://www.cimic.com.au/__data/assets/pdf_file/0004/10759/L_News_Aug_1972.pdf Tallowa Contract Sets Record
  25. Web site: Bruce Stadium & National Indoor Stadium Precinct / National Athletics Stadium & National Indoor Sports & Training Centre. https://web.archive.org/web/20200402060227/http://www.raia.com.au/docs/default-source/act-documents/gio-stadium-canberra.pdf?sfvrsn=0. dead. 2 April 2020. Australian Institute of Architects ACT Chapter: Register of Significant Architecture. 4 January 2020.
  26. Web site: Bowen Bridge - Version One - construction of Bowen Bridge - joint venture Leighton Contractors and Candac Ltd - features Bob Hawke opening bridge. Libraries Tasmania. 5 January 2020.
  27. Book: Cox, Philip Sutton . Cox Architects and Planners. 224. Images Publishing. 2008. 978-1920744076.
  28. The Dream Becomes Reality . March 1990 . Western Roads. 15 . 1 . 1 . Main Roads Department . Perth, Western Australia.
  29. Book: Cox, Philip Sutton . Cox Architects and Planners. 226. Images Publishing. 2008. 978-1920744076.
  30. Web site: Leighton to sell $48m stake in casino management company. Sydney Morning Herald. 12 February 2003. 3 January 2020.
  31. Web site: List of Current Contracts as at 31/12/96. Hong Kong Airport Core Programme. New Airport Projects Co-ordination Office, Government Secretariat. 19 February 2018.
  32. Web site: Olympic Park Rail Station. Sydney Architecture. 5 January 2020.
  33. Jewell . Chris . Merrick . Noel . 2003 . Modelling of the groundwater impact of a sunken urban motorway in Sydney, Australia . RMZ – Materials and Geoenvironment . 50 . 1 . 229 . https://web.archive.org/web/20150924091519/http://www.rmz-mg.com/letniki/rmz50/rmz50_0229-0232.pdf . 24 September 2015 . dead . dmy .
  34. News: Gareth . Malpeli . Leighton To Build Narrows Bridge . . 28 . 8 March 1999 .
  35. Web site: Introducing the great pyramid of Sydney. Sydney Morning Herald. 4 September 2005. 5 January 2020.
  36. Web site: Leighton leads $700m buyout of Cross City Tunnel - Business - Business. Sydney Morning Herald. en. 20 June 2007.
  37. https://web.archive.org/web/20130411130745/http://leightonproperties.com.au/our-projects/commercial/westpac-place.html Westpac Place
  38. News: Perth to Mandurah rail dispute settled. ABC News. ABC. 28 May 2009. 5 January 2020.
  39. Web site: North-West Transitways. Jackson Teece. 5 January 2020.
  40. Web site: Eagle's Nest Tunnel and Sha Tin Heights Tunnel. Government of Hong Kong. 5 January 2020.
  41. Web site: Alliance named to build next stage of Eastern Busway. Queensland Government. 23 December 2008. 5 January 2020.
  42. Web site: Key Facts . New Perth Bunbury Highway . Southern Gateway Alliance . 15 March 2013 . https://web.archive.org/web/20091013001106/http://sgalliance.com.au/npbh/about_facts.html . 13 October 2009.
  43. Web site: The Clem Jones Tunnel – An engineering feat . 27 December 2014 . dead . https://web.archive.org/web/20110706103054/http://www.clem7.com.au/content/2146/AN-ENGINEERING-FEAT . 6 July 2011 .
  44. Web site: Leighton Abigroup to build Brisbane's Gateway Bridge. Earthmover & civil contractor. October 2006. 27 December 2014.
  45. Web site: ABC Headquarters. Southbank Corporation. 5 January 2020.
  46. https://web.archive.org/web/20120604055055/http://www.regionalraillink.vic.gov.au/construction/deer-park-to-west-werribee Deer Park - West Werribee Junction
  47. Web site: Leighton Awarded SIL (E) Contracts. 19 May 2011. Tunneling Journal. 4 January 2020.
  48. News: Royal Adelaide Hospital builder ordered to pay Chinese cladding company almost $2 million. ABC News. ABC. 9 October 2018. 4 January 2020. Puddy. Rebecca.
  49. Web site: Northern Beaches Hospital nears completion. Infrabuild. 9 April 2018. 4 January 2020. 8 August 2020. https://web.archive.org/web/20200808200635/https://www.infrabuild.com/en-au/resource-centre/resources/northern-beaches-hospital-nears-completion/. dead.
  50. Web site: Leighton team scoops $2.7bn Sydney motorway. 8 June 2015. Construction Index. 4 January 2020.
  51. Web site: Financial close reached for Canberra metro rail project. 25 May 2016. Infra PPP World. 4 January 2020.
  52. Web site: Getting on with the job: $1.15 billion Tunnelling Contract on North West Rail Link. 25 June 2013. Transport for NSW. 17 May 2019.
  53. Web site: John Holland and CPB Contractors JV to build Melbourne's West Gate Tunnel Project. 13 December 2017. Global Construction. 17 May 2019.
  54. Web site: The big dig: New Harbour Metro crossing underway. 22 June 2017. Sydney Metro. 17 May 2019.
  55. Web site: Cimic Group wins rail and road contracts in Melbourne worth more than $600m. 2 October 2019. Global Construction Review. 4 January 2020.
  56. Web site: Parramatta Light Rail Contracts Signed. 20 December 2018. Government of New South Wales. 5 January 2020.

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