Multiplex (company)
Type | Private |
---|---|
Industry | Construction, engineering, infrastructure |
Founded | 1962 |
Founder | John Roberts |
Headquarters | London, England |
Key people | John Flecker (CEO) |
Parent | Brookfield Business Partners |
Website | Multiplex.Global |
Multiplex is an international construction contractor founded in Australia and currently headquartered in London, England. Operating in Australia, India, Canada, Europe and the Middle East, the company specialises in high-rise buildings, stadia, high-end residential, mixed-use, education, health and civil infrastructure developments.
History[]
Multiplex was founded in 1962 in Perth, Western Australia by John Roberts.[1]
In December 2003, it listed on the Australian Securities Exchange with the code of MXG, raising a total of A$1.2 billion.[2]
Multiplex announced in late November 2006 that it planned to create a European real-estate fund to increase profits.[3] Multiplex posted a preliminary financial report on 22 February 2007 which announced the group's net profit of A$295.6 million.[4]
In January 2007 Multiplex faced a takeover bid which caused its share price to jump 17%. The A$4.03 billion proposal was never formally made and the potential bidder remained anonymous.[5]
On 11 June 2007, Brookfield Asset Management proposed an acquisition of Multiplex which valued the company at approximately A$7.3 billion.[6] The offer to shareholders of $5.05 per security was supported by the Multiplex board of directors, including the Roberts family,[7] who sold their 26% ownership of Multiplex to Brookfield. The offer also proved popular with investors, with Brookfield rapidly acquiring 90% ownership of the company by 31 October 2007.[8]
Brookfield acquired the remaining 10% of Multiplex securities and delisted the company from the Australian Securities Exchange in November 2007. Brookfield published a statement to the ASX outlining its intentions following the acquisition of Multiplex.[9]
The company rebranded to its original name of Multiplex in 2016, while still remaining a Brookfield company.[10]
In 2020, Multiplex made a pre-tax loss of £158.6m. The company closed its sites in late March 2020, after lockdown was introduced.[11]
Operations[]
As at January 2020, Multiplex employed 1,584 people in Australia, 900 in Europe, 4,081 in the Middle East and 120 in Canada.[12]
Controversies[]
In 2019, legal action was launched against the company by NHS Greater Glasgow and Clyde over problems in the construction and design of the Queen Elizabeth University Hospital.[13][14] A public inquiry was also launched in 2019, looking at the QEUH and the delayed Royal Hospital for Children and Young People.[15][16] The inquiry is intended to examine "how serious problems relating to key building systems and infrastructure occurred, and what steps can be taken to prevent these in future projects".[17] In January 2020, NHS Greater Glasgow and Clyde was reported to be seeking £73m in compensation from Multiplex over building problems at QEUH.[18]
In August 2020, Multiplex was identified as the slowest payer among major UK contractors, taking more than 50 days on average to settle its bills.[19]
Major projects[]
Australia[]
- Burswood Casino, Perth completed in 1985[20]
- Tuggeranong Hyperdome, Canberra completed in 1987[21]
- BankWest Tower, Perth completed in 1988[22]
- Central Park, Perth completed in 1992[23]
- Stadium Australia, Sydney completed in 1999[24]
- Citigroup Centre, Sydney, completed in 2000[25]
- Old Swan Brewery, Perth completed in 2001[26]
- Federation Square, Melbourne completed in 2002[27]
- Flinders Wharf, Melbourne completed in 2003[28]
- Perth Convention & Exhibition Centre, Perth completed in 2004[29]
- Gold Coast Convention & Exhibition Centre, Queensland, completed in 2004[30]
- Latitude, Sydney completed in 2005[31]
- Melbourne Convention Centre, Melbourne completed in 2009[32]
- Brookfield Place, Perth, completed in 2012[33]
- Swanston Academic Building, Melbourne, completed in 2012[34]
- Fiona Stanley Hospital, Perth completed in 2013[35]
- Prima Pearl, Melbourne completed in 2014[36]
- 1 William Street, Brisbane completed in 2016[37]
- Crown Towers, Perth completed in 2016[38]
- Perth Stadium, Perth completed in 2018[39]
- Australia 108, Melbourne completed in 2020[40]
United Kingdom[]
- Wembley Stadium, London completed in 2007[41]
- Strata SE1, London completed in 2010[42]
- Peterborough City Hospital, England completed in 2010[43]
- The Tower - St George Wharf, London completed in 2014[44]
- Queen Elizabeth University Hospital, Glasgow opened in 2015[13]
- Principal Place, London completed in 2018[45]
- 22 Bishopsgate, London completed in 2020[46]
- 100 Bishopsgate, London completed in 2020[47]
- Royal Hospital for Children and Young People, Edinburgh completed 2021[48]
Middle East[]
- Emirates Towers, Dubai completed in 2000[49]
- The Index, Dubai completed in 2011[50]
- Msheireb Downtown Doha Phase 1C, Qatar completed in 2012[51]
- JW Marriott Marquis Dubai completed in 2013[52]
New Zealand[]
- Sentinel, North Shore City, completed in 2008[53]
- Deloitte Centre, Auckland completed in 2009[54]
See also[]
References[]
- ^ Miriam Steffens (9 June 2006). "Multiplex founder Roberts dies at 72". The Age. Retrieved 12 June 2006.
- ^ Multiplex Group Admission to Official List Australian Securities Exchange 1 December 2003
- ^ "Multiplex Plans 356 Million Euro Europe Property Fund". Bloomberg News. 28 November 2006.
- ^ "Multiplex Group (MXG) Interim Financial Results for the Six Months Ended 31 December 2006". multiplex.com.au. Archived from the original on 25 March 2007.
- ^ "Australia's Multiplex gets bid approach, shares up". Yahoo Finance. Archived from the original on 7 July 2012. Retrieved 12 April 2007.
- ^ "Brookfield's Proposed Acquisition of Multiplex Group". brookfield.com. Archived from the original on 13 February 2008.
- ^ "Your directors unanimously recommend that you accept the Brookfield offer". Multiplex.biz. Archived from the original on 29 August 2007.
- ^ "Notice of Compulsory Acquisition". ASX.[permanent dead link]
- ^ "Brookfield Bidder Statement" (PDF). Archived from the original (PDF) on 8 July 2011.
- ^ Wilson, Robyn (31 August 2016). "Brookfield Multiplex rebrands to create 'unique identity'". Construction News.
- ^ "Covid costs Multiplex £149m". www.theconstructionindex.co.uk. Retrieved 30 April 2021.
- ^ "Multiplex - About Multiplex - Learn More About Our Company". Multiplex. Retrieved 8 January 2020.
- ^ a b "NHS board to take action over hospital contractor". BBC News. 17 December 2019.
- ^ Brooks, Libby (17 December 2019). "Glasgow health board takes legal action against hospital contractor". The Guardian.
- ^ "Inquiry into safety issues at flagship hospitals". 17 September 2019.
- ^ "Public inquiry into hospital sites". Scottish Government News. Retrieved 23 December 2019.
- ^ Swanson, Ian (28 November 2019). "High Court judge appointed to head public inquiry into Edinburgh's Sick Kids hospital and Glasgow's Queen Elizabeth hospital". The Scotsman.
- ^ Morby, Aaron (28 January 2020). "Multiplex sued for £73m over Glasgow super hospital faults". Construction Enquirer. Retrieved 29 January 2020.
- ^ Rogers, Dave (3 August 2020). "Multiplex promises action after new figures reveal it is taking more than 50 days to settle its bills". Building. Retrieved 3 August 2020.
- ^ Richardson in first as Labor fund raiser Canberra Times 20 June 1991 page 1
- ^ Tuggeranong retail mall work to begin Canberra Times 22 May 1986 page 1
- ^ McGeough, Paul (8 September 1984). "Reviver for Palace Project". The West Australian. p. 1.
- ^ Roger and Barbara Andrew (eds.) (2000). "A city within a city". Western Australia – leading in the new millennium. Roleystone: Andrew Publishing House. pp. 201–202. ISBN 0-9577842-1-X.
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has generic name (help) - ^ Stadium Australia Fast Facts Stadium Australia
- ^ "Citigroup Centre, Sydney". Brookfield Multiplex. Archived from the original on 26 June 2014. Retrieved 26 June 2014.
- ^ "Old Swan Brewery". Brookfield Multiplex. Archived from the original on 26 June 2014. Retrieved 26 June 2014.
- ^ "Federation Square: Fun Facts". Archived from the original on 28 August 2007.
- ^ "Infolink".[permanent dead link]
- ^ "Perth Convention Exhibition Centre: Frequently asked questions". Archived from the original on 13 July 2009. Retrieved 12 July 2009.
- ^ "Gold Coast Convention and Exhibition Centre". Brookfield Multiplex. Archived from the original on 26 March 2014. Retrieved 26 June 2014.
- ^ "Latitude at World Square". Archived from the original on 14 October 2009.
- ^ "The Melbourne Convention Centre wins the 2010 Australian Construction Achievement Award" (PDF). acaa. 21 May 2010. Archived from the original (PDF) on 13 June 2010. Retrieved 28 May 2010.
- ^ "Brookfield Place". The Skyscraper Center. Retrieved 19 March 2018.
- ^ "Swanston Academic Building". RMIT. Archived from the original on 4 March 2016. Retrieved 26 June 2014.
- ^ "Brookfield Multiplex wins new hospital contract". WA Today. 3 March 2009. Retrieved 30 April 2018.
- ^ "Prima Pearl". Skyscraper Centre. Retrieved 30 April 2018.
- ^ "1 William Street: Moving day arrives for public servants in Brisbane". ABC. 1 October 2016. Retrieved 30 April 2018.
- ^ "Work starts on Crown Towers Perth". WA Today. 9 April 2014. Retrieved 30 April 2018.
- ^ "Claim Perth Stadium subcontractors owed millions". ABC. 14 July 2016. Retrieved 30 April 2018.
- ^ "Australia 108 Skyscraper Soars to Record Heights". The Urban Developer. Retrieved 8 January 2020.
- ^ "£253m legal battle over Wembley delays". The Guardian. 16 March 2008.
- ^ "Strata". Council on Tall Buildings and Urban Habitat. Retrieved 24 May 2014.
- ^ "Multiplex preferred bidder at Peterborough hospital PFI". Building. 11 March 2005. Retrieved 30 April 2018.
- ^ Sian, Disson. "Tallest residential tower in London completes, designed by Broadway Malyan". World Architecture News. Retrieved 6 June 2014.
- ^ Shead, Sam. "PHOTOS: Inside Amazon's giant new UK HQ in London". Business Insider. Retrieved 8 January 2020.
- ^ Construction News (30 August 2007). "Multiplex wins £500m tower". CNPlus.co.uk. Retrieved 30 August 2007.[dead link]
- ^ "Multiplex faces delay on £400m 100 Bishopsgate". Construction News. Retrieved 8 January 2020.
- ^ "Freeman 'overruled' opening of sick kids hospital". BBC News. 5 July 2019.
- ^ "Emirates Tower One". Council on Tall Buildings and Urban Habitat. Archived from the original on 24 May 2014.
- ^ "2011 Best Tall Building Middle East & Africa". Council on Tall Buildings and Urban Habitat. Retrieved 24 May 2014.
- ^ "Msheireb Properties awards QR1.5 billion construction contract to Brookfield Multiplex Medgulf WLL". Al Bawaba. 5 November 2012. Retrieved 15 August 2015.
- ^ "Second tower of JW Marriott Marquis Dubai opens". Emirates 24|7. 13 March 2014. Retrieved 24 May 2014.
- ^ "Building towers over Auckland's North Shore". NZ Construction News. July 2007.
- ^ "Deloitte Centre". Brookfield Multiplex. Archived from the original on 11 February 2010. Retrieved 30 April 2018.
External links[]
Wikimedia Commons has media related to Multiplex construction company. |
- Brookfield Asset Management
- Companies based in London
- Companies formerly listed on the Australian Securities Exchange
- Construction and civil engineering companies established in 1962
- Construction and civil engineering companies of Australia
- 2003 initial public offerings
- 2007 mergers and acquisitions
- Australian companies established in 1962