Company Overview and News
Global Construction Services is still negotiating the sale price for its equipment hire business to Onsite Rental Group, but says the division accounted for less than 10 per cent of the group’s total revenue.
Onsite Rental Group plans to acquire Western Australian equipment hire business GCS Hire – the equipment hire division of Global Construction Services.
Global Construction Services has entered into an agreement for the sale of its equipment hire division to Onsite Rental Group for an undisclosed sum.
Global Construction Services’ half-owned subsidiary Gallery Facades has won a $62 million contract with Lendlease for work on the east coast.
Global Construction Services hopes to gain more exposure to the commercial construction sector on the east coast through the acquisition of a Melbourne-based business for $18.4 million in cash and scrip.
Global Construction Services has received a $27.5 million contract for work on the first stage of Scentre Group’s Westfield Carousel shopping centre redevelopment.
The $59 million contract is from national tier-one construction company Probuild, pending final execution of the formal contract. The project will involve the provision of formwork, concrete supply, concrete pumping and concrete placement. The work is scheduled to commence in January 2017 and executed over an 18 month period. Last month, Global Construction signed a binding agreement to sell its 50% interest in SmartScaff Pty Ltd to the remaining shareholders in SmartScaff for $10.
Global Construction Services will pocket $17.5 million when it completes the sale of its stake in SmartScaff.
In the 5 years that I've been investing, I've tried many different investment approaches. Regular readers will know that about a year ago, I settled on buying cheap stocks.
Decmil Group and Global Construction Services have swung into the red on the back of large write-downs and restructuring costs.
Listen to podcasts covering breaking news, items of interest and our Success & Leadership Series events. A wide range of topics covered by our well renowned reporters and WA business leaders. Subscribe on iTunes for updates as they happen. Click here for more
2017-12-11 - Wilton
2017-12-11 - Wilton
2017-12-03 - Wilton
2017-11-27 - Wilton