Leighton subsidiary Thiess has taken 100% ownership of telecommunications, energy and infrastructure services company, Silcar Pty Ltd.
Silcar has been a 50/50 joint venture between Thiess and the global engineering technology company Siemens. The acquisition of Siemens shares by Thiess was agreed so that both companies could better focus their respective strategic portfolios.
Managing Director Bruce Munro said “This acquisition broadens our services offering to our valued Thiess and Silcar clients and positions Thiess as one of the leading services companies in Australia.”
Thiess owner Lieghtons also owns NBN contractor Visionstream.
Jeff Connolly, Siemens CEO commented on the sale saying “while Silcar has experienced continued success since its commencement approximately 20 years ago, the recently increased proportion of the business activities and prospects in the telecommunications sector is inconsistent with Siemens’ portfolio of future technologies,” said Siemens Ltd.
“We wish Silcar all the best in their future operations,” Mr Connolly said.