Tag Archives: Construction

Fletcher Building subject to investigation by NZX

### tvnz.co.nz 11:54am
1 News
Source: NZN
Fletcher Building to be investigated by NZX as company announces much-reduced earnings
The New Zealand stock exchange says it will be investigating Fletcher Building’s additional profit warning for the year ended June 30 and the departure of chief executive and managing director Mark Adamson.
“NZX will be making inquiries into today’s disclosures, given FBU’s continuous disclosure obligations under the listing rules,” the NZX Head of Market Supervision Joost van Amelsfort said in a release.
Separately – in accordance with NZX’s routine surveillance processes – trading ahead of today’s announcement would be assessed in detail, it said.
That would be on top of NZX’s ongoing investigation into the disclosure of FBU’s previous earnings downgrade in March 2017,” it said.
Read more

****

### interest.co.nz
Posted in Property July 20, 2017 – 09:13am
Fletcher Building has announced the immediate departure of chief executive Mark Adamson and says operating earings this year will be around $100 million less than previously indicated
By David Hargreaves
Construction giant Fletcher Building says chief executive Mark Adamson is leaving immediately, while the company’s now forecasting operating earnings of around $100 million less than its last forecast.
Additionally, the company says it’s writing down the value of two business units by about $220 million. This will not be a ‘cash’ loss per se, but will carve about 3% off the value of the company’s assets.
The share price fell – down about 8.5% to $7.40.
….The $220 million write-down relates to the Iplex Australia and Tradelink subsidiaries.
Fletcher indicated that most of the reduced earnings forecast would come through two major projects: “A major project subject to previous write-downs, which has required an increase in project resourcing and therefore cost as it nears completion,” and “a second major project where construction timelines and the likely completion date have been extended”.
This is the third major profit warning the company has issued this year. After the last one in March it was speculated – and never denied by the company – that the two projects causing the biggest problems were Government projects; namely the new Sky City International Convention Centre in Auckland and the new Justice and Emergency precinct in Christchurch.
Read more

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Sky City International Convention Centre

Remember the National government waffle:

### ODT Online Wed, 28 Oct 2015
Fletcher signs with SkyCity
By Simon Hartley
SkyCity’s $700 million convention centre and hotel project in central Auckland has contracted Fletcher Building for $477 million of the work, expected to begin by December. […] Despite controversy over the project, there was negligible political response to yesterday’s announcement, other than Minister of Economic Development Steven Joyce talking up the importance of the “national facility”.
Read more

****

20 July 2017
STATEMENT FROM FLETCHER (via interest.co.nz)

– Fletcher Building announces expected earnings for the financial year ended 30 June 2017
– Operating earnings expected to be approximately $525 million, down from previous guidance of $610-$650 million
– Likely impairment up to $220 million relating to Iplex Australia and Tradelink business units
– Departure of Chief Executive Officer (CEO) and Managing Director Mark Adamson
– Appointment of Francisco Irazusta as interim CEO, effective Monday 24 July 2017

Fletcher Building has today announced it expects operating earnings before interest, tax and significant items (‘EBIT’) to be approximately $525 million for the year ended 30 June 2017.

Trading in the Building Products, International, Distribution and Residential and Land Development divisions, as well as three of the four business units in the Construction division (Infrastructure, Higgins and South Pacific), are in line with the Company’s expectations, previously provided at the time of the interim results on 22 February 2017.

However, as work on major projects in the Building + Interiors (‘B+I’) business unit has progressed, it has become apparent that losses in B+I will exceed those previously estimated. The deterioration is due to:
– A major project subject to previous write-downs, which has required an increase in project resourcing and therefore cost as it nears completion;
– A second major project where construction timelines and the likely completion date have been extended;
– Reduced profit expectations on a number of smaller projects in the remainder of the B+I portfolio.

Fletcher Building Chairman Sir Ralph Norris said: “It is very disappointing to see further losses being reported in our B+I business, particularly when the vast majority of the remaining Fletcher Building business units have performed so well during the year. I know our people in B+I are working incredibly hard to deliver a number of projects for our clients and I would like to acknowledge their efforts.”

In addition, consistent with standard practice at the end of each financial period, Fletcher Building has undertaken a review of the Balance Sheet carrying values of its business units. This review has indicated that the value of two business units, Iplex Australia and Tradelink, are likely to be subject to an impairment charge of approximately $220 million, when the company finalises its financial statements in August. An impairment of this nature would be reported below the EBIT line and have no impact on cash earnings.

An impairment charge of $220 million would represent approximately 3% of the group’s total assets as at 30 June 2017. The amount of asset impairment is indicative at this stage and is subject to finalisation of the year-end audit.

“With regards to the impairment of Iplex Australia and Tradelink, while we do see progress in these business units the Board felt it was prudent to recognise that the near to medium term estimates of profitability in each business are not aligned with current carrying values,” continued Sir Ralph.

The Board also announced the departure of Chief Executive Officer (CEO) and Managing Director, Mark Adamson.

Sir Ralph Norris said: “The Board believes it is the right time for Mark to leave the Company, to allow a new CEO to lead Fletcher Building through this period and into the next phase of its strategy. The Board would like to thank Mark for his work and we wish him the best in his future endeavours.”

Mark Adamson said: “I am disappointed to finish my tenure on the back of a challenging result in the Construction Division, however I am proud of what has been achieved over the last five years – most notably the turnaround of Formica, double-digit earnings growth in Distribution, our acquisition of Higgins and the significant progress in our residential development division.”

The Board has appointed Francisco Irazusta interim CEO effective Monday 24 July 2017.

“Francisco joined Fletcher Building in March 2015 and is currently Chief Executive of the International Division. Prior to joining the Company he held senior leadership positions with a number of building products companies in North America and Europe and will provide stable leadership for the business during this transition, with the support of myself and the Board,” finished Sir Ralph.

The Board will now commence a process to appoint a new CEO.

[ends]

Fletcher Building http://www.fletcherbuilding.com/

Christchurch Justice and Emergency Services Precinct

Other news:
NZH: Fletcher CEO sorry for inflammatory internal email: Chairman
Stuff: SkyCity confirms delay to international convention centre as Fletchers feels ‘pain’
NZH: CEO departs amid Fletcher’s $415m fortune turnaround, stock drops to 16-month low

Posted by Elizabeth Kerr

This post is offered in the public interest.

1 Comment

Filed under Architecture, Business, Construction, Design, Economics, Finance, Geography, Media, Name, New Zealand, Politics, Project management, Property, Public interest, Urban design

Greater South Dunedin : Public Meeting, Monday 12 June 6.30pm

Public Meeting South Dunedin: It’s your future!
Monday 12 June 6.30pm Nations Church. Please come!

It’s almost two years since the devastating 2015 floods which hit the suburbs of Greater South Dunedin, affecting more than a thousand homes, businesses, community organisations and schools.

It is timely to hold another public meeting in order to give you a voice and to provide an opportunity for some information sharing and discussion about the priorities for our community.
We hope you will attend.

Ray Macleod, Chair
The Greater South Dunedin Action Group

Background Information:

There’s been a lot of talk about the future of Greater South Dunedin.

Some of that talk has been muddled by poor quality information collected and published around the extent and causes of the flooding on our community. Eventually the Dunedin City Council acknowledged that its lack of maintenance of the mud tanks and its lack of oversight of the performance of the Portobello Pumping Station contributed 200mm to the flooding that occurred.

Parliamentary Commissioner for the Environment, Jan Wright, warned earlier in 2016 that South Dunedin presented the “most troubling example” of high groundwater in the country.

The DCC and the Otago Regional Council have produced reports on the flooding and the issues facing Greater South Dunedin due to rising groundwater and the impact of climate change. Their reports are largely based on predictions and modelling assumptions.

There have been reports by GNS Science and the University of Otago’s School of Surveying of potential subsidence in South Dunedin and other parts of the city. At the time, GNS cautioned against reading too much into the subsidence data, as more work was required.

The DCC has finally announced a temporary community hub will open at Cargill Enterprises on Hillside Road mid-year.
After much public outcry, the South Dunedin Work and Income and Police station re-opened their doors.

The DCC formed a stakeholder group of organisations and government agencies, some of whom have a presence in South Dunedin, which meets every month or so.

Heavy rainfall over Easter demonstrated that the City’s civil defence preparedness and response has improved, although local people are yet to be fully informed about how they can be better prepared and understand how a civil defence emergency may affect them.

The DCC’s Second Generation Plan has held hearings into the Hazard 3 (Coastal) Overlay which covers the area bounded by Forbury Rd to the west, Victoria Road to the south, the Caversham bypass motorway to the North and Portsmouth drive to the east. This includes a provision to require new residential dwellings to be “relocatable”.

The DCC also recently announced new “minimum floor” levels for new buildings in South Dunedin of 500 mm for those not affected by the 2015 floods and 400mm above the floodwaters for those affected by the 2015 floods. This will result in some new houses having to be a metre above ground level in order to get a building consent. GIVEN THE DCC CONTRIBUTED 200MM TO THE 2015 FLOOD LEVEL THIS RAISES A QUESTION REGARDING THE NEED FOR ANY MINIMUM FLOOR LEVEL REQUIREMENT OR A CASE BY CASE EVALUATION AS THE NEED ARISES.

If you live or work in the Greater South Dunedin area, all of these proposed changes and approaches affect you. Put together they provide a confusing picture of an important community which is receiving mixed messages about its future and doesn’t yet feel it has a strong voice and a plan.

In all of the discussions about the future of Greater South Dunedin, the people who call these suburbs (of South Dunedin, St Kilda, St Clair, Forbury, Caversham, Caledonian, Portsmouth Drive, parts of Musselburgh and Tainui) home or work are not yet part of the discussions.

You may have attended a public meeting after the floods which resulted in the formation of the Greater South Dunedin Action Group. We consider you to be an important part of this group as it aims to:

• Facilitating effective communication between the community and the city and regional councils
• Advocating, representing and promoting the present and future interests of the community
• Ensuring the area is well serviced by Council in terms of social and infrastructure services as a foundation for a vibrant community
• Exploring the opportunities for the area including inner city redevelopment, renewal, and support for new job opportunities & enterprise
• Developing a sustainable plan for the future of the Greater South Dunedin area and its community

[ends]

****

Greater South Dunedin Action Group

Public Meeting
6:30pm Monday 12 June 2017
Nations Church
334 King Edward Street South Dunedin

Agenda
Meeting Chair: Hon Stan Rodger

1. Welcome: Hon Stan Rodger

2. Apologies

3. Dunedin City Council & Otago Regional Council on what has been achieved over the past two years. Response to questions submitted to DCC copies are which will be circulated to the meeting. (15 Minutes)

4. Dr Simon Cox: A geoscientist’s perspective on the problem at hand.
(15 minutes)

5. Mr Geoff Thomas: Property Council of NZ. Impact on property values.
(10 minutes)

6. Questions from the floor (if wishing to ask questions please try to write these down and direct them through the Hon Stan Rodger).

7. Proposed resolutions:
a) That the meeting provide a mandate to the Greater South Dunedin Action Group to act as an advocate for the community interests.
b) That the DCC are requested to provide an initial engineering plan and response by 1 December 2017 with the intention of providing protection and support to people, homes and businesses in the Greater South Dunedin area.
c) The DCC be requested to commence the establishment of a community board to represent the interests of the Greater South Dunedin Community.

8. Any other business.

9. A wrap up and thank you from the Chair of the Greater South Dunedin Action Group. (5 minutes)

10. Final words from the Hon Stan Rodger.

█ Download: SDAG Public Meeting Agenda (DOCX, 25 KB)

Posted by Elizabeth Kerr

This post is offered in the public interest.

24 Comments

Filed under Business, Climate change, Construction, DCC, Democracy, Design, District Plan, Dunedin, Economics, Education, Finance, Geography, Health & Safety, Housing, Infrastructure, New Zealand, People, Politics, Property, Proposed 2GP, Public interest, Resource management, South Dunedin, Structural engineering, Technology, Tourism, Town planning, Urban design

Democracy, a little strange looking here and there

ODT 12.5.17 (page 16)

Not sure the above is the “nature of democracy”.
Ownership more often than not has rights to what Democracy might be, for better or worse. Democracy is the dull moving target around traction of tolerance and accommodation, alternately characterised by recklessness, drilling, handholding, gutless audacity and full oppositional war. And finally, perhaps, it is Comedy of Errors (the big CE) – to do with pique, vanity, providence, chess-like cunning, ill temper and quarrelsome kicks, artful dodging, strange bed fellows, lousy cracks at definition, ruthless assaults and incursions, “Territory”, chiming disgust, stiff ultimatums, the surrender to power, corruption or fraud…..and all notions, wagons, bonfires that encircle ‘the final word’ and last stands, angry trumpet votes to Brexit, chaste lookalikes, injury, ill health….. Jesus weeps.

### ODT Online Wed, 12 Apr 2017
Hospital rebuild: back off but don’t back down
By Hilary Calvert
OPINION If we asked Otago people what they most want from health services it would likely be health service delivery in the province at least as good as the rest of New Zealand. For example, whatever qualifies for an operation here should be the same that qualifies those up north. The Dunedin School of Medicine is vital to us as well. […] What if harassing of the Government in an imagined party political fashion just makes the Government determined to not give us what we want, since we will likely vote two local Labour people into Parliament this year? If we concentrate on telling the Government what we most want, and stop trying to tell it how it should deliver the services, we have a much better chance of getting the best result.
Read more

Comment to What if? Dunedin:

Diane Yeldon
April 14, 2017 at 11:10 pm
“Harassing of the Government in an imagined party political fashion.” Well said by Hilary Calvert. Spot on!
Here’s the meeting video for 21 Feb. Starting from 1.58.24 into the video, you can watch the discussion on the resolution which authorised the [Dunedin Hospital SOS] campaign. This was the Notice of Motion put forward by Cr Benson-Pope and seconded by Cr Hawkins.
There was no information in the agenda about how much the ‘asking for support’ would cost or how the ‘asking for support’ would be carried out. Nor did any councillors ask questions about this. Their attention was focused solely on discussing the rights and wrongs of the hospital siting (with only a couple of councillors saying they didn’t think it was any of their business.)
I can’t help wondering if many of the councillors did not understood that this ‘asking for support’ would result in unleashing a full-blown advertising campaign with leaflet drop, website and newspaper ads costing so far $12,000! I wonder if the motion had been taken in two parts with the second part only about the campaign and its full extent and costs disclosed the majority would have still voted in favour.

Dunedin City Council Published on Feb 26, 2017
Dunedin City Council – Public Forum + Council Meeting – 21 February 2017
Minutes, agendas and reports related to this meeting can be found at https://goo.gl/Eis3sK

[decisionmaker.co.nz] formatted by whatifdunedin

Related Posts and Comments:
● 8.4.17 Questions over Council’s Dunedin Hospital SOS campaign
● 6.4.17 ODT editor comments strongly #tick —Dunedin Hospital rebuild
● 27.3.17 Site Notice #DunedinHospital
● 26.2.17 Dunedin Hospital Redevelopment
● 6.2.17 Let the Ombudsman recommend for democracy at SDHB
● 24.1.17 SDHB/Govt : Physio Pool GRIEF
● 9.1.17 Audit NZ admonishes commissioner Grant and SDHB #Health
● 18.12.16 DCC set to take away CBD car parks without Economic Impact research
20.11.16 Delta at Dunedin Hospital #worseluck
7.11.16 SDHB #FAILS with Healthcare Communication and Governance

Posted by Elizabeth Kerr

This post is offered in the public interest.

*Image: batmanrobin by Mike Luckovich 2016 @njc.com [via truthdig.com] tweaked by whatifdunedin

32 Comments

Filed under Architecture, Business, Construction, DCC, Democracy, Design, District Plan, Dunedin, Economics, Education, Finance, Geography, Health, Health & Safety, Heritage, Hospital, Hot air, Infrastructure, LTP/AP, Media, New Zealand, OAG, Ombudsman, People, Perversion, Pet projects, Politics, Project management, Property, Proposed 2GP, Public interest, Resource management, SDHB, Site, Technology, Town planning, Transportation, Travesty, University of Otago, Urban design, What stadium

Questions over Council’s Dunedin Hospital SOS campaign

Received from Diane Yeldon
Fri, 7 April 2017 at 4:06 p.m.

OPINION

What’s wrong with the DCC Dunedin Hospital SOS Campaign?

If you clear away all the smoke from the party-political bluster, bickering and name–calling arising over this campaign, has the Dunedin City Council really done anything out of order? Or were some councillors, in fact, a majority, just trying to do their best for the people of Dunedin?

Unfortunately, the road to hell can be paved with good intentions. A council communication cannot be a political advertisement.

The Electoral Act more or less defines a political advertisement as anything which persuades or encourages voters to vote in a particular way. But our democratic rights to participate in government decision-making are not limited to voting once every three years. Citizens also have the right to petition Government, make submissions to select committees and other public authorities and deliberative bodies, and lobby MPs and Government Ministers.

If local councillors had been presented with a motion which proposed the following : that the Council encourages and persuades voters to choose candidate A, they would have rightly been horrified and would have rejected it.

In comparison, a single, short and final paragraph in a council motion which proposes that the Council should ask for public support for ONLY its own preferred position on a central government decision, and that people make such views known to central government, looks harmless and is quite likely to pass unnoticed – and, in fact, did. But it is just as political. It encourages people to use their democratic rights in a particular way.

The council staff should have alerted councillors that this was the case and that such political activism was beyond the proper scope of any local body. The difference in wording may be subtle but the democratic principles involved are significant and far-reaching.

Monday, 3 April 2017

[ends]

Dunedin City Council’s Dunedin Hospital SOS petition states:
“I demand that central government redevelops Dunedin Hospital in the centre of the city. The government must also make a clear commitment to retain a top flight teaching hospital for Dunedin and the wider Otago/Southland region.
Save Our Site. Save Our Services.”

Petition at the DCC-managed SOS website [framed screenshot]

At the bottom of the webpage, DCC says:
“Dunedin Hospital SOS
The Dunedin City Council (“DCC”, “we”, “us”, or “our”) operates, hosts, or manages a number of websites, including DunedinHospitalSOS.nz. This site was created and funded following a Council resolution (21 February 2017) to communicate to Government its complete opposition to a rebuild of Dunedin Hospital outside the central city. It is not a permanent website.”

How the petition got off the ground by Council vote (21 February 2017) on the Notice of Motion:

[screenshots – click to enlarge]

DCC Council 21.2.17 Agenda – 15 Notice of Motion Dunedin Hospital Rebuild

DCC Council 21.2.17 Minutes – 15 Notice of Motion Dunedin Hospital Rebuild

****

The DCC Dunedin Hospital SOS flyer and Facebook campaign cost Ratepayers $7,102 (excl GST). Ratepayers also find themselves footing the bill for a DCC-led SOS media campaign:

ODT Online 8.4.17 [screenshot]

Related Posts and Comments:
● 6.4.17 ODT editor comments strongly #tick —Dunedin Hospital rebuild
● 27.3.17 Site Notice #DunedinHospital
● 26.2.17 Dunedin Hospital Redevelopment
● 6.2.17 Let the Ombudsman recommend for democracy at SDHB
● 24.1.17 SDHB/Govt : Physio Pool GRIEF
● 9.1.17 Audit NZ admonishes commissioner Grant and SDHB #Health
● 18.12.16 DCC set to take away CBD car parks without Economic Impact research
20.11.16 Delta at Dunedin Hospital #worseluck
7.11.16 SDHB #FAILS with Healthcare Communication and Governance

█ For more, enter the terms *hospital*, *sdhb* and *swann* in the search box at right.

Posted by Elizabeth Kerr

This post is offered in the public interest.

61 Comments

Filed under Business, DCC, Democracy, Dunedin, Education, Finance, Health, Hospital, Hot air, Infrastructure, Media, Name, New Zealand, OAG, Ombudsman, People, Pet projects, Pics, Politics, Project management, Property, Public interest, Resource management, SDHB, Site, Town planning, Transportation, Travesty, University of Otago, Urban design, What stadium

ODT editor comments strongly #tick —Dunedin Hospital rebuild

Junior councillors should think carefully about how they appear in writing and how they might appear in publicity shots on Frederick St, as a band of politicos.

BRAVO to the ODT Editor:

Wisely, this editorial had already put dogsbodies in their place:

### ODT Online Thu, 30 Mar 2017
Editorial: Hospital central to city’s needs
OPINION What a shame the Dunedin City Council is divided over its campaign to keep the city’s hospital in the central city. This is an issue which should unite Dunedin. The squabbling is distressing. The council has initiated an effort to keep the rebuilt hospital right in town, with three councillors, Lee Vandervis, Mike Lord and Doug Hall, voting against. Dunedin-based National-list MP Michael Woodhouse waded in late last week, implying the campaign was a front for the Labour Party […] There are two fundamental issues. First, on the siting of the hospital, and second on whether the council should campaign on that. As as been pointed out strongly on this newspaper’s opinion page by two distinguished Dunedin residents, Sir David Skegg (a former University of Otago vice-chancellor) and Emeritus Prof David Jones (a former university medical division head), close links between the medical school and the hospital are vital.
Read more

DCC’s ‘Dunedin Hospital SOS’ flyer and Facebook campaign cost Ratepayers $7,102 (excl GST).

[click to enlarge]

DCC says 55,000 campaign flyers were printed, with 50,000 supposedly delivered to households (however, thickish piles of flyers have been found by cleaners about town —gathering dust in corporate office tearooms and reception areas)….

ODT 25.3.17 (page 1) – tweaked by whatifdunedin

### ODT Online Sat, 25 Mar 2017
Woodhouse blasts DCC
By Eileen Goodwin
National list MP Michael Woodhouse has lashed out at the Dunedin City Council over its hospital rebuild campaign, implying it is a front for the Labour Party. And Mr Woodhouse said the council’s stance was “confusing” — on the one hand it wants a central city rebuild, but it granted the Accident Compensation Corporation the right to consider buying the Frederick St car park. ACC has a 12-month timeframe to look at development options for the site. […] Mr Woodhouse is also ACC Minister, and he made it clear he was speaking as a local MP.
Read more

Related Posts and Comments:
● 27.3.17 Site Notice #DunedinHospital
● 26.2.17 Dunedin Hospital Redevelopment
● 6.2.17 Let the Ombudsman recommend for democracy at SDHB
● 24.1.17 SDHB/Govt : Physio Pool GRIEF
● 9.1.17 Audit NZ admonishes commissioner Grant and SDHB #Health
● 18.12.16 DCC set to take away CBD car parks without Economic Impact research
20.11.16 Delta at Dunedin Hospital #worseluck
7.11.16 SDHB #FAILS with Healthcare Communication and Governance
3.9.16 SDHB ‘food’ : Our eyes glaze over . . . .
23.8.16 Win! to DCC candidate Paul Pope #DunedinHospital
22.6.16 SDHB Commissioners speed-bleed health system
1.5.16 Hospital food according to Gurglars
23.12.15 SDHB underfunded, no bandage
3.11.15 SDHB will ‘takeaway’ more than freshly cooked meals and a head chef
30.10.15 Dunedin Hospital #despair
● 17.6.15 Southern District Health Board sacked !!!
9.6.15 Southern District Health Board
16.4.15 Talk of replacing Southern District Health Board with commissioner
21.8.14 Dirty pool? #SDHB #University
6.8.14 Otago Therapeutic Pool at Dunedin Hospital
1.5.14 Dunedin Hospital buildings SORRY STATE
14.1.14 DCC: Hospital area parking changes #cyclelanes
5.12.13 Swann case: ODHB/SDHB and friends
3.8.12 Extraordinary editorials

Posted by Elizabeth Kerr

This post is offered in the public interest.

10 Comments

Filed under Architecture, Business, Construction, DCC, Democracy, Design, District Plan, Dunedin, Economics, Education, Events, Finance, Health, Hospital, Hot air, Infrastructure, Media, Name, New Zealand, OAG, Ombudsman, People, Pet projects, Politics, Project management, Property, Proposed 2GP, Public interest, Resource management, SDHB, Site, Town planning, Travesty, University of Otago, Urban design, What stadium

Site Notice #DunedinHospital

This afternoon David Benson-Pope requested an unreserved apology from the website owner following publication of an image and various comments at a now deleted post concerning the Save Our Hospital campaign that was highlighted in a newspaper story published on 25 March 2017.

The website owner unreservedly apologises to Mr Benson-Pope for the publication of this material and any resulting discomfort or distress it may have caused.

An apology will be emailed to Mr Benson-Pope shortly, copy Sandy Graham, DCC.

Elizabeth Kerr
Site Owner

Reference:

### ODT Online Sat, 25 Mar 2017
Woodhouse blasts DCC
By Eileen Goodwin
National list MP Michael Woodhouse has lashed out at the Dunedin City Council over its hospital rebuild campaign, implying it is a front for the Labour Party. And Mr Woodhouse said the council’s stance was “confusing” — on the one hand it wants a central city rebuild, but it granted the Accident Compensation Corporation the right to consider buying the Frederick St car park. ACC has a 12-month timeframe to look at development options for the site. […] Mr Woodhouse is also ACC Minister, and he made it clear he was speaking as a local MP.
Read more

[ends]

Posted by Elizabeth Kerr

This post is offered in the public interest.

21 Comments

Filed under Architecture, Business, Construction, Democracy, Design, Dunedin, Economics, Education, Finance, Geography, Health, Hospital, Infrastructure, Leading edge, Media, Name, New Zealand, People, Project management, Property, Public interest, SDHB, Site, University of Otago, Urban design, What stadium

Downer EDI buys Hawkins businesses

At Facebook:

Downer EDI – Media Release
Downer acquires Hawkins businesses in New Zealand

08/03/2017
Downer EDI Limited (Downer) announced today that it had signed an agreement to acquire the construction, infrastructure and project management businesses of Hawkins, a New Zealand company, from the McConnell Family.
The Chief Executive of Downer, Grant Fenn, said Hawkins was an excellent strategic fit for Downer’s New Zealand business.
“Downer has a long and proud history in New Zealand that can be traced back more than a century,” Mr Fenn said. “Today we are a leading provider of services to our customers in a range of markets including transport, telecommunications and water.
“Hawkins is a New Zealand industry leader in construction and infrastructure and this acquisition will complement our existing Engineering, Construction and Maintenance capabilities while also providing a platform for growth. It is estimated that over NZ$50 billion will be invested in non-residential construction in New Zealand over the next five years.”
Mr Fenn said Hawkins would continue to operate under its current brand.
“Hawkins was founded in New Zealand 70 years ago and its highly skilled management team has built a strong reputation for delivering quality projects for its customers in both the public and private sectors,” he said.
Hawkins has a number of high profile projects across its portfolio including the SH16 Lincoln to Westgate upgrade, the construction of Auckland’s Park Hyatt Hotel, the Pier B Extension at Auckland Airport, Wellington Airport’s Rongotai Control Tower, Wellington City Council’s Arlington Housing Project, the Christchurch Town Hall, and the Avon River Precinct (Christchurch).
Mr Fenn said the acquisition would be funded through existing debt facilities and be earnings accretive in its first year.
The transaction is due to be completed on 31 March.

[ends] Downer EDI Link

****

Hawkins – Media Release
Hawkins Ownership to Change

8th March 2017

Hawkins is pleased to announce that Downer is acquiring Hawkins’ construction, infrastructure and project management businesses from the McConnell Family. This offers a new era of opportunity for both organisations. Hawkins Construction will retain its brand and continue as an ongoing business. Hawkins Infrastructure, which complements Downer, will be integrated into its existing Infrastructure business. Together we look forward to continuing our proud New Zealand heritage of building better communities, with passionate people and great projects. Link

[Hawkins full announcement]

DOW / Announcements
Downer acquires Hawkins business in New Zealand
8:39am, 8 Mar 2017 | ASSET

8 March 2017
DOWNER ACQUIRES HAWKINS BUSINESSES IN NEW ZEALAND
Downer EDI Limited (Downer) announced today that it had signed an agreement to acquire the construction, infrastructure and project management businesses of Hawkins, a New Zealand company, from the McConnell Family.
The Chief Executive of Downer, Grant Fenn, said Hawkins was an excellent strategic fit for Downer’s New Zealand business.
“Downer has a long and proud history in New Zealand that can be traced back more than a century,” Mr Fenn said. “Today we are a leading provider of services to our customers in a range of markets including transport, telecommunications and water.
“Hawkins is a New Zealand industry leader in construction and infrastructure and this acquisition will complement our existing Engineering, Construction and Maintenance capabilities while also providing a platform for growth. It is estimated that over NZ$50 billion will be invested in non-residential construction in New Zealand over the next five years.”
Mr Fenn said Hawkins would continue to operate under its current brand.
“Hawkins was founded in New Zealand 70 years ago and its highly skilled management team has built a strong reputation for delivering quality projects for its customers in both the public and private sectors,” he said.
Hawkins has a number of high profile projects across its portfolio including the SH16 Lincoln to Westgate upgrade, the construction of Auckland’s Park Hyatt Hotel, the Pier B Extension at Auckland Airport, Wellington Airport’s Rongotai Control Tower, Wellington City Council’s Arlington Housing Project, the Christchurch Town Hall, and the Avon River Precinct (Christchurch).
Mr Fenn said the acquisition would be funded through existing debt facilities and be earnings accretive in its first year.
The transaction is due to be completed on 31 March.

For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145

About Downer
Downer EDI Limited (Downer) is a leading provider of services to customers in markets including: Transport Services; Rail; Mining; Utilities Services; Technology and Communications Services; and Engineering, Construction & Maintenance. We build strong relationships of trust with our customers, truly understanding and predicting their needs and bringing them world leading insights and solutions. Downer employs about 19,000 people across more than 200 sites and projects, mostly in Australia and New Zealand, but also in the Asia-Pacific region, South America and Southern Africa. For more on Downer, visit: http://www.downergroup.com.

About Hawkins
Hawkins was established in Hamilton in 1946 by Fred Hawkins and has steadily grown over seven decades to become a leader in New Zealand’s infrastructure and project delivery. Hawkins employs about 700 people and specialises in the design and construction delivery of buildings and infrastructure that create stronger communities across New Zealand and also the Asia Pacific. For more information on Hawkins, visit http://www.hawkins.co.nz

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Downer acquires Hawkins business in New Zealand (PDF)

[ends] Hawkins Link

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