MURPHY’S LAW PREVAILS IN PIPE AND CIVIL ACQUISITION

Written on the 22 March 2011

MURPHY’S LAW PREVAILS IN PIPE AND CIVIL ACQUISITION

UK CONSTRUCTION giant Murphy Pipelines has acquired a 50 per cent stake in Brisbane company Pipe and Civil Constructions for an undisclosed sum.

The merger will allow the new company Murphy Pipe and Civil to capitalise on market expansion as it targets large scale pipeline projects in Australia.

Australia is facing a strong demand for resources-based construction and major infrastructure with the pipeline industry undergoing a multi-billion dollar expansion with the development of the coal seam gas projects.

Projects manager Tony O’Sullivan says the investment in Pipe and Civil was an important step in penetrating the Australian market.

“This fits with our international expansion of the construction business to continue to drive long term growth,” he says.

“Pipe and Civil’s good track record, along with their sound financial systems was what attracted us most.”

Pipe and Civil director Brenton Euler says that over the past four years, the company has grown from strength to strength and the merger supported its strategy for growth.

“This exciting partnership will allow both companies to leverage their respective strengths and work towards greater presence in a wider range of market sectors,”
he says.

Pipe and Civil was recently awarded a $100 million per year contract by QGC to build an upstream gathering system for its mining projects. It is also working on a $100 million contract in mining services construction in WA and on the Gateway Motorway upgrade.


Latest News

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter