Iconic Gladstone construction company bought for $85m
THE new owner of construction business Golding Contractors says it will honour the company's rich history in Gladstone dating back to 1942.
Perth-based outfit NRW Holdings bought Golding Contractors this week for $85 million.
NRW Holdings had its sights on the mining and civil works business for 10 years, while Golding Contractors continued to grow its revenue.
Golding Contractors has 700 Queensland employees and is expected to report $369 million in revenue this year, an increase from $290 million last year.
NRW Holdings chief executive and managing director Jules Pemberton said there would be no changes to staffing at the Gladstone branch.
"NRW is acutely aware of Golding's proud heritage, dating back to 1942 when Cyril Golding started his logging business," Mr Pemberton said.
"We value long-term relationships .... and that includes the community of Gladstone."
The company completed the Bruce Hwy Calliope crossroads upgrade and has secured work to build a $29 million water storage facility near South Trees.
The addition of Golding Contractors is part of the mining company's goal to expand throughout Queens- land and New South Wales.