Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Opus expands Australian unit with A$1.7 mln acquisition

Opus expands Australian unit with A$1.7 mln acquisition

Feb. 20 (BusinessDesk) - Opus International Consultants, the engineering firm with one of four mandates to lead design the Christchurch rebuild, has expanded its Australian business buying Bowdens Group Australia for A$1.7 million.

The Wellington-based company will add the survey, civil engineering and water services design firm to its Australian unit, opening a new office in Parramatta, it said in a statement. Bowden managing director Greg Gearin will lead the new Parramatta office, which will add 16 staff to Opus’s 420 strong workforce in Australia, and report to Australian managing director Melvyn Maylin.

The company will pay A$1.4 million in cash, A$200,000 in shares and a further A$100,000 if certain performance targets are met.

“The purchase of the business gives us a broader range of complementary services in survey and water engineering,” managing director David Prentice said. “It also allows us to enter additional market sectors through Bowden’s existing contracts with key clients.”

Opus’s Australian unit accounted for about 16 percent of its $462.9 million annual revenue in 2013. The company’s underlying earnings gained 14 percent to $34.3 million in the year after expanding its Canadian business with the acquisition of engineering consultancy Stewart Weir.

The shares were unchanged at $2.10 today, and have increased 1 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Food: Govt Obesity Plan - No Tax Or Legislation

Speaking to Q+A’s Corin Dann this morning, health minister Jonathan Coleman said tackling obesity was at the top of the Government’s priority list, but there was “no evidence” a sugar tax worked, and further regulation was unnecessary. More>>

ALSO:

Treasury Docs On LVR Policy: Government Inaction Leads To Blurring Of Roles

The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says. More>>

ALSO:

Final EPA Decision: Tough Bar Set For Ruataniwha Dam

Today’s final decision by the Tukituki Catchment Board of Inquiry is good news for the river and the environment, says Labour’s Water spokesperson Meka Whaitiri. “Setting a strict level of dissolved nitrogen in the catchment’s waters will ensure that the dam has far less of an impact on the Tukituki river." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news