buys Clough’s assets for 23.4 million – Corriere.it

Webuild continues to grow in Australia. The group has signed a contract with the administrators of Clough Limited for the purchase of corporate assets of the same for 23.4 million euro. The final perimeter to be acquired includes Clough’s core organization, including offices, brands, credentials, qualifications, senior management, headquarters staff, and over 4 billion projects in the backlog (as of end 2022) and related workforce. The integration of Clough into Webuild, which safeguards the employment of 1,100 employees, will create a group among the major players in Australia. The projects included in the scope of the acquisition are among the most important infrastructures under construction in Australia and Papua New Guinea and the agreement reached between Deloitte and Webuild facilitates their delivery for the governments, local communities and businesses involved, explains the group in a note.

Total backlog of over 12 billion euros

Webuild has been present in Australia since the 1970s

. In almost 50 years of presence in the country, he has built works such as the Melbourne subway, the Shoalhaven bridge and the Wivenhoe dam. In the last 4 years, Webuild’s turnover in Australia grew from 3% of the total Group turnover recorded in 2018 to 8% in 2020, up to 14% in 2022. With the transaction carried out with Clough, Webuild reaches a total backlog of over 12 billion euros in Australiaincluding the projects awarded as the best bidder, to have approximately 3,000 employees in the country.

Salini: Historical operation

Today’s operation is a historic one for Webuild, which consolidates the growth strategy in low-risk markets, in line with the derisking policy adopted in recent years. With the integration of Clough, we become one of the major players in the sector, also in neighboring segments such as energy, defense plants and infrastructure, in a rapidly growing and continuously expanding market, he says Pietro Salini, managing director of Webuild. The integration of the skills of the people of Clough and Webuild will guarantee the realization of quality projects for customers and territories, and already with this operation we have demonstrated how a strong team spirit has already been created – he adds -. Thanks go to all involved for working so collaboratively and tirelessly to deliver an extraordinary result in such a timely manner despite the complexities of the different projects involved, time zones and distances.