ENGINEERING group Clough Limited has made its first strategic move since South African Murray & Roberts moved to take control. This morning it said it had signed a heads of agreement with the administrator of Henry Walker Eltin to acquire parts of its WA civil construction business.
While it does not affect the oil and gas divisions of Clough the move will add $25 million of contract value to its order book for the acquisition price of about $1 million, according to Clough CEO and managing director, David Singleton.
“This acquisition will secure the jobs of HWE employees currently working on the Roe 7 highway extension project [and] will ensure continuity of the Roe 7 project schedule and budget," he said.
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