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Civmec

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Civmec Limited
Company typeDual-listed public company
SGX: P9D
ASX: CVL
IndustryConstruction
Engineering
Shipbuilding
Founded1990
Headquarters
Henderson, Western Australia
Key people
James Fitzgerald (Chairman)
Pat Tallon (CEO)
RevenueDecrease $392 million (2019–2020)
Increase $38.5 million (2019–2020)
Increase $17.5 million (2019–2020)
Total assetsIncrease $600.3 million (June 2020)
Total equityIncrease $263.1 million (June 2020)
Number of employees
circa 2,000 (June 2020)
SubsidiariesForgacs Marine & Defence
Websitewww.civmec.com.au
Footnotes / references
[1]

Civmec Limited is a dual-listed Australian-Singaporean public company involved in the construction, engineering and shipbuilding industries. Headquartered in Perth, Western Australia, it specialises in fabrication and construction for the oil and gas and mining industries and has been involved in a number of significant Australian mining and civil engineering projects and has been selected to build a number of vessels and facilities for the Royal Australian Navy.

History

[edit]
Civmec's headquarters in Henderson, Western Australia

Civmec was established in 1990, becoming part of the VDM Group in 2006.[2] In 2009, it was sold in a management buyout.[3] It was listed on the Singapore Exchange in 2012,[4] and became a dual-listed company when listed on the Australian Securities Exchange on 22 June 2018.[5]

Civmec's main facilities are in Henderson and Newcastle and it has satellite offices in Gladstone and Singapore.[6] The Henderson headquarters sits on 120,000 square metres of land, and its fabrication plant is the largest in the southern hemisphere.[7] An expansion to the shipbuilding and maintenance facility in 2018 and 2019 resulted in an undercover facility with 53,000 square metres of space, which is the largest in Australia.[8]

Up until 2015, Civmec had largely concentrated on mining and energy-based projects, holding engineering contracts for Shell Australia's Prelude floating liquefied natural gas facility, Chevron Corporation's Gorgon and Wheatstone gas facilities, Inpex's Ichthys gas field and Woodside Petroleum's Persephone project. Around this time, although the company's mining-based contracts continued, the company diversified its work and moved to infrastructure-based projects.[7] Since this time it has undertaken the construction of a number of significant infrastructure projects in Perth as well as commenced military projects.

In November 2015, Civmec agreed terms to purchase Forgacs Marine & Defence.[9] The company saw the purchase as an opportunity to set up a facility on Australia's east coast,[9] and to pursue opportunities to enter into military contracts for submarines, offshore patrol boats and frigates for the Royal Australian Navy (RAN).[10][11] The purchase, which included the Forgacs Shipyard in Tomago, New South Wales, was completed in February 2016 and resulted in over 150 job losses.[12]

In 2018, Civmec commenced building ten of the Arafura-class offshore patrol vessels for the RAN,[13][14] and in 2020 commenced building the RAN's new submarine rescue at its Henderson facility, which will include a launch and recovery system, hyperbaric treatment unit, and maintenance training and testing infrastructure with a seven-metre deep pool. This facility is due for completion in February 2021.[15]

Notable projects

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References

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  1. ^ "Annual Report 2019–2020". Civmec. Civmec Limited. pp. 11, 91, 92. Retrieved 10 January 2021.
  2. ^ Hoey, Trevor (12 July 2006). "VDM busily making own road to growth". Australian Financial Review. Fairfax Media. Retrieved 10 January 2021.
  3. ^ Cooper, Julie (10 June 2020). "There is no substitute for hard work.: Pat Tallon". CEO Magazine. The CEO Magazine. Retrieved 10 January 2021.
  4. ^ Williams, Peter (18 April 2012). "Singapore listing proves windfall for Civmec". The West Australian. West Australian Newspapers Limited. Retrieved 10 January 2021.
  5. ^ Williams, Peter (22 June 2018). "Civmec completes ASX listing process". The West Australian. West Australian Newspapers Limited. Retrieved 10 January 2021.
  6. ^ "Office Locations". Civmec. Civmec Limited. Retrieved 10 January 2021.
  7. ^ a b Kakulas, Vetti (9 September 2015). "Perth engineering company Civmec owes success to change in focus away from mining". PerthNow. West Australian Newspapers Limited. Retrieved 10 January 2021.
  8. ^ Harvey, Ben (30 July 2019). "Civmec's massive expansion shipshape for the navy". The West Australian. West Australian Newspapers Limited. Retrieved 10 January 2021.
  9. ^ a b Durrant, Patrick (18 November 2015). "Newcastle shipbuilder Forgacs to be acquired by Civmec". Australian Defence Magazine. Yaffa Media. Retrieved 10 January 2021.
  10. ^ Kirkwood, Ian (28 April 2016). "West Australian company Civmec unveils plans for the Forgacs shipyard at Tomago". Newcastle Herald. Australian Community Media. Retrieved 10 January 2021.
  11. ^ "Civmec keen to build subs in WA". Business Spectator (The Australian). Nationwide News Pty Ltd. AAP. 26 September 2015. Retrieved 12 January 2021.
  12. ^ Marchese, David (3 February 2016). "Forgacs jobs lost as Civmec takeover finalised". ABC News. Australian Broadcasting Corporation. Retrieved 10 January 2021.
  13. ^ "Arafura Class OPV". Royal Australian Navy. Retrieved 27 December 2020.
  14. ^ Hastie, Hamish (29 May 2018). "Perth company joins Germans in southern suburbs shipbuilding project". WA Today. Nine Entertainment Co. Retrieved 9 January 2021.
  15. ^ "CIVMEC starts construction on new $12.5m submarine rescue facility in Henderson". PerthNow. West Australian Newspapers Limited. 4 June 2020.
  16. ^ Staff Reporter (10 March 2015). "Tender win for Civmec builders". Fremantle Gazette. West Australian Newspapers Limited. Retrieved 10 January 2021.
  17. ^ Mischin, Michael (4 March 2015). "Media Statements: WA company secures $73m stadium contract". wa.gov.au. Government of Western Australia. Archived from the original on 12 January 2021. Retrieved 10 January 2021.
  18. ^ Leow, Annabel (22 February 2019). "Civmec launches legal action over Perth Stadium contract". Business Times (Singapore). Singapore Press Holdings Ltd. Retrieved 10 January 2021.
  19. ^ Perpitch, Nicolas (8 August 2017). "Civmec confident Swan River pedestrian bridge can be built by March 2018". ABC News. Australian Broadcasting Corporation. Retrieved 10 January 2021.
  20. ^ Rimrod, Fran (15 October 2017). "Perth Stadium footbridge will be 'as big as Sydney Harbour Bridge'". WA Today. Nine Entertainment Co. Retrieved 10 January 2021.
  21. ^ Cook, Roger; Saffioti, Rita; Dawson, Stephen (2020-12-17). "Builder Civmec to construct rainbow Perth Kids' Bridge". Deputy Premier and Ministers for Health and Mental Health, Transport and Planning, and Environment, Disability Services and Electoral Affairs (Media Statement). Western Australia: Government of Western Australia. Archived from the original on 2020-12-29. Retrieved 2021-01-04.
  22. ^ Rifici, Victoria (2020-11-23). "Construction set to start on Perth Children's Hospital bridge". Perth Now. Western Suburbs Weekly. Retrieved 2021-01-06.
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