Leighton Completes John Holland's Sale to CCCI
Leighton Holdings today announced it had completed the sale of John Holland to CCCC International Holding Limited (CCCI), a wholly-owned subsidiary of China Communications Construction Company (CCCC). As previously advised, CCCI has purchased John Holland for an enterprise valuation of approximately A$1.15 billion. Leighton Holdings Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “Completing the sale of John Holland marks the achievement of a material piece of the Strategic Review of our operations that we announced in June 2014.
WICET set for Commissioning
Wiggins Island Coal Export Terminal (WICET) Gladstone, Australia, is now moving into the commissioning stage. The first shipment of product coal is expected to leave Wiggins Island Coal Export Terminal at Golding Point this month. It has been 11 years since the $2.6 billion project was first mooted and its owners, who visited WICET last month, were excited to see the first piles of coal quickly growing at the stockyard. All the conveyor belts are working after the first live test, including the 5.6km long overland conveyor from the loading area at the balloon loop that travels under Gladstone–Mt Larcom Rd to the stockyard.
Leighton to Sell John Holland
Leighton Holdings today announced it had entered a binding agreement for the sale of John Holland to CCCC International Holding Limited (CCCI). CCCI is a wholly-owned subsidiary of China Communications Construction Company (CCCC), the fourth largest construction company in the world by revenue1 . CCCC has a market capitalisation of approximately A$23.5 billion and is listed on the Hong Kong and Shanghai stock exchanges. CCCI will purchase John Holland for an enterprise valuation of approximately A$1.15 billion subject to certain adjustments.
Leighton Reports Q3 UNPAT up 21%
Leighton Holdings Limited today announced its unaudited results for the nine months to 30 September 2014. Executive Chairman and Chief Executive Officer, Mr Marcelino Fernández Verdes, said: “The Leighton Group produced a strong result in the third quarter. Underlying net profit after tax1(UNPAT) of $470 million was up 21% from $389 million in the previous corresponding period. Reported net profit after tax (NPAT) of $430 million also compared favourably with the same period in 2013, when NPAT of $444 million included a one-off gain of $115 million from the sale of 70% of the Group’s telecommunications assets.
John Holland awarded $100 million project in Western Australia
John Holland has been awarded a contract worth approximately $100m for mine infrastructure by Rio Tinto in the Pilbara region of Western Australia. Group Managing Director, Glenn Palin, said that the award reflects John Holland’s industry leading skills in the delivery of mine infrastructure. “More broadly, this project aligns with our strategy of building full service engineering and construction capabilities across the energy and resources sector,” Mr Palin said. Executive General Manager for Specialist Engineering, Brendan Petersen, said structural and mechanical engineering is a core capability for John Holland.
