CIMIC Group

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CIMIC Group Limited
TypePublic
ASX: CIM
IndustryConstruction, Civil engineering
PredecessorLeighton Holdings
Founded1949
FounderStanley Leighton
HeadquartersNorth Sydney, New South Wales, Australia
Key people
Juan Santamaria, Executive chairman
RevenueA $14.670.2 billion (2018)[1]
A $1.142.6 billion (2018)[1]
A $773.8 million (2018)[1]
ParentHochtief (70%)
Websitewww.cimic.com.au/

CIMIC Group Limited (formerly known as Leighton Holdings prior to April 2015) is an Australian multinational contractor. It is active in the telecommunications, engineering and infrastructure, building and property, mining and resources, and environmental services industries. It has operations in Australia, Southeast Asia, New Zealand, and the Middle East. Leighton Holdings was rebranded as the CIMIC Group in 2015.[2][3]

CIMIC stands for Construction, Infrastructure, Mining and Concessions.[2]

History[]

Logo used prior to April 2015

Founded in 1949 by Stanley Leighton, Leighton Holdings was first listed on the Melbourne Stock Exchange in 1962.[4]

In July 1983 Leighton Holdings, purchased Thiess Contractors, with its major shareholder, Hochtief, becoming a shareholder in Leighton Holdings.[5][6][7] In April 1997 the Welded Mesh structural materials division was sold to Smorgon Steel.[8]

In 2000, Leighton Holdings bought a 70% stake in John Holland; this was increased to 99% in 2004 and 100% in December 2007.[9] Hochtief became a majority shareholder of Leighton Holdings in February 2001.[10]

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.[11] Basil Al Jarah, the Iraq country manager for Unaoil, a Monaco-based company allegedly acting for Leighton Holdings, subsequently pleaded guilty to corruption.[12]

By March 2014, Spanish company ACS Group, through its acquisition of a majority shareholding in Hochtief, was the majority owner of Leighton Holdings.[13] In June 2014, Verdes also became chairman of Leighton's executive board.[14]

In December 2014, Leighton Holdings sold John Holland to China Communications Construction for $1.15 billion.[15]

In April 2015, in the wake of the earlier corruption allegations against Leighton Holdings, ACS changed Leighton’s name to CIMIC Group (abbreviated from Construction, Infrastructure, Mining and Concessions).[16]

In March 2016, CIMIC purchased mining company Sedgman for A$256 million.[17] In December 2016, CIMIC purchased engineering company UGL Limited for A$524 million.[18]

Structure[]

CIMIC Group includes the following businesses:[19]

  • CPB Contractors (construction)
  • Leighton Asia (construction)
  • Broad (construction)
  • Thiess (mining)
  • Sedgman (mining)
  • UGL Limited (services)
  • Pacific Partnerships (public private partnerships)
  • EIC Activities (consultancy)
  • Ventia (services)

Major projects[]

Antilia, the world's most valuable private residence, South Mumbai, India

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

Ownership[]

About 70% of the shares in CIMIC Group are held by Hochtief which in turn is owned by the ACS Group.[57]

Hong Kong railway project[]

Leighton Asia, a subsidiary of CIMIC Group, was awarded the contract for constructing the Hung Hom station extension of the Sha Tin to Central Link, a high profile railway network extension project in Hong Kong in 2013.[58] In 2018, Leighton Asia was accused of failure to comply with local safety standards and attempting to hide this failure until a whistleblower leaked its evidence to the local press.[59] During a hearing of the commission of inquiry, the Hong Kong Government accused Leighton of corporate arrogance.[60]

References[]

  1. ^ Jump up to: a b c "Financial Results 2018" (PDF). CIMIC. Retrieved 25 February 2019.
  2. ^ Jump up to: a b "Leighton to change name to CIMIC in wake of corruption allegations". Retrieved 6 May 2015.
  3. ^ "Leighton name change gets green light". The Daily Telegraph. Australia. Retrieved 6 May 2015.
  4. ^ "Leighton Holdings could face fresh ASIC inquiry into potential write-downs". ABC News. 20 March 2014. Retrieved 25 February 2019.
  5. ^ Leighton plans to merge with construction giant Canberra Times 9 June 1983 page 23
  6. ^ Chances for profit curbed, Leighton chairman says Canberra Times 25 October 1984 page 21
  7. ^ Into the 1980s Thiess
  8. ^ Smorgon Steel boosts stocks Australian Financial Review 17 April 1997
  9. ^ "Australia's Leighton acquires 70% in John Holland". Asia Times. 25 January 2000. Archived from the original on 25 September 2000. Retrieved 2 April 2015.CS1 maint: unfit URL (link)
  10. ^ "HOCHTIEF secures a majority stake in Leighton Holdings". 1 February 2001. Retrieved 24 August 2021.
  11. ^ "Leighton Holdings accused of paying bribes in Iraq". ABC. 7 October 2013. Retrieved 4 January 2019.
  12. ^ "Guilty plea in London exposes Australian company for alleged corruption". Sydney Morning Herald. 22 July 2019. Retrieved 4 January 2020.
  13. ^ "Hochtief installs own CEO at helm of Leighton, sweetens offer to raise majority stake", Reuters, International, 2014, archived from the original on 14 March 2014, retrieved 30 June 2017
  14. ^ "Leighton CEO appointed executive chairman". Fifth Estate. 11 June 2014. Archived from the original on 14 July 2014. Retrieved 27 December 2014.
  15. ^ "Leighton signs agreement to sell John Holland to CCCC" (PDF). 12 December 2014. Archived from the original (PDF) on 27 December 2014. Retrieved 27 December 2014.
  16. ^ "Leighton to change name to CIMIC in wake of corruption allegations". The Sydney Morning Herald. 20 March 2015. Retrieved 6 May 2015.
  17. ^ "CIMIC makes $256m hostile takeover bid for Queensland's Sedgman". Sydney Morning Herald. 13 January 2016. Retrieved 25 February 2019.
  18. ^ "CIMIC to seize all of UGL after reaching 90pc threshold". Australian Financial Review. 19 December 2016. Retrieved 25 February 2019.
  19. ^ "Our brands". CIMIC. Archived from the original on 20 April 2019. Retrieved 20 April 2019.
  20. ^ Woden Parkway construction, The Canberra Times, Page 10, 19 September 1966
  21. ^ Jump up to: a b c d e "About us: history". Leighton Holdings. Archived from the original on 11 December 2007. Retrieved 27 December 2014.
  22. ^ Tallowa Contract Sets Record Archived 29 March 2016 at the Wayback Machine Leighton News Letter issue 16 August 1972
  23. ^ "Bruce Stadium & National Indoor Stadium Precinct / National Athletics Stadium & National Indoor Sports & Training Centre" (PDF). Australian Institute of Architects ACT Chapter: Register of Significant Architecture. Archived from the original (PDF) on 2 April 2020. Retrieved 4 January 2020.
  24. ^ "Bowen Bridge - Version One - construction of Bowen Bridge - joint venture Leighton Contractors and Candac Ltd - features Bob Hawke opening bridge". Libraries Tasmania. Retrieved 5 January 2020.
  25. ^ Cox, Philip Sutton (2008). Cox Architects and Planners. Images Publishing. p. 224. ISBN 978-1920744076.
  26. ^ "The Dream Becomes Reality". Western Roads. Perth, Western Australia: Main Roads Department. 15 (1): 1. March 1990.
  27. ^ Cox, Philip Sutton (2008). Cox Architects and Planners. Images Publishing. p. 226. ISBN 978-1920744076.
  28. ^ "Leighton to sell $48m stake in casino management company". Sydney Morning Herald. 12 February 2003. Retrieved 3 January 2020.
  29. ^ "List of Current Contracts as at 31/12/96". Hong Kong Airport Core Programme. New Airport Projects Co-ordination Office, Government Secretariat. Retrieved 19 February 2018.
  30. ^ "Olympic Park Rail Station". Sydney Architecture. Retrieved 5 January 2020.
  31. ^ Jewell, Chris; Merrick, Noel (2003). "Modelling of the groundwater impact of a sunken urban motorway in Sydney, Australia" (PDF). RMZ – Materials and Geoenvironment. 50 (1): 229. Archived from the original (PDF) on 24 September 2015.
  32. ^ Malpeli, Gareth (8 March 1999). "Leighton To Build Narrows Bridge". The West Australian. p. 28.
  33. ^ "Introducing the great pyramid of Sydney". Sydney Morning Herald. 4 September 2005. Retrieved 5 January 2020.
  34. ^ "Leighton leads $700m buyout of Cross City Tunnel - Business - Business". SMH. 20 June 2007.
  35. ^ Westpac Place Leighton Properties
  36. ^ "Perth to Mandurah rail dispute settled". ABC. 28 May 2009. Retrieved 5 January 2020.
  37. ^ "North-West Transitways". Jackson Teece. Retrieved 5 January 2020.
  38. ^ "Eagle's Nest Tunnel and Sha Tin Heights Tunnel" (PDF). Government of Hong Kong. Retrieved 5 January 2020.
  39. ^ "Alliance named to build next stage of Eastern Busway". Queensland Government. 23 December 2008. Retrieved 5 January 2020.
  40. ^ "Key Facts". New Perth Bunbury Highway. Southern Gateway Alliance. Archived from the original on 13 October 2009. Retrieved 15 March 2013. Additional archives: 15 January 2015.
  41. ^ "The Clem Jones Tunnel – An engineering feat". Archived from the original on 6 July 2011. Retrieved 27 December 2014.
  42. ^ "Oh brother, spare me the time – World". The Sydney Morning Herald. 2 August 2008. Retrieved 13 October 2010.
  43. ^ "Leighton Abigroup to build Brisbane's Gateway Bridge". Earthmover & civil contractor. October 2006. Retrieved 27 December 2014.
  44. ^ "ABC Headquarters". Southbank Corporation. Retrieved 5 January 2020.
  45. ^ Deer Park - West Werribee Junction Regional Rail Link, Retrieved 4 January 2020
  46. ^ "Leighton Awarded SIL (E) Contracts". Tunneling Journal. 19 May 2011. Retrieved 4 January 2020.
  47. ^ "Royal Adelaide Hospital builder ordered to pay Chinese cladding company almost $2 million". ABC. 9 October 2018. Retrieved 4 January 2020.
  48. ^ "Northern Beaches Hospital nears completion". Infrabuild. 9 April 2018. Retrieved 4 January 2020.
  49. ^ "Leighton wins $1.2b Hong Kong rail deal". Sydney Morning Herald. 20 October 2011. Retrieved 16 December 2019.
  50. ^ "Leighton team scoops $2.7bn Sydney motorway". Construction Index. 8 June 2015. Retrieved 4 January 2020.
  51. ^ "Financial close reached for Canberra metro rail project". Infra PPP World. 25 May 2016. Retrieved 4 January 2020.
  52. ^ "Getting on with the job: $1.15 billion Tunnelling Contract on North West Rail Link". Transport for News South Wales. 25 June 2013. Retrieved 17 May 2019.
  53. ^ "John Holland and CPB Contractors JV to build Melbourne's West Gate Tunnel Project". Global Construction. 13 December 2017. Retrieved 17 May 2019.
  54. ^ "The big dig: New Harbour Metro crossing underway". Sydney Metro. 22 June 2017. Retrieved 17 May 2019.
  55. ^ "Cimic Group wins rail and road contracts in Melbourne worth more than $600m". Global Construction Review. 2 October 2019. Retrieved 4 January 2020.
  56. ^ "Parramatta Light Rail Contracts Signed". Government of New South Wales. 20 December 2018. Retrieved 5 January 2020.
  57. ^ Financial report 2014
  58. ^ "Major Contracts Awarded". Sha Tin to Central Link. c. 2017. Retrieved 7 February 2019.
  59. ^ "Leaked photos show workers cutting steel bars at scandal-hit HK$97.1 billion Sha Tin-Central rail link in Hong Kong". South China Morning Post. Hong Kong: South China Morning Post Publishers (Alibaba Group). 12 June 2018. Retrieved 1 February 2019.
  60. ^ "Government warns MTR Corp and Leighton Contractors against altering safety standards in Hung Hom station platform case". South China Morning Post. Hong Kong: South China Morning Post Publishers (Alibaba Group). 28 January 2019. Retrieved 1 February 2019.

External links[]

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