Singapore-listed Civmec has bought out Australia’s largest privately owned engineering and shipbuilding company, Forgacs for A$20.75m ($14.6m).
Based in New South Wales, Forgacs is engaged in major project engineering, construction and maintenance for both defence and commercial markets.
Civmec has a yard in Western Australia
Civmec CEO Pat Tallon said, “This acquisition gives us a strong presence on the East Coast of Australia, enabling us to provide national and regional clients with a range of services in line with those we currently provide on the West Coast of Australia.”
Tallon added, “Our initial focus will be on steel fabrication and pre-cast concrete manufacture and over time we intend to combine the credibility of both the Tomago purpose-built shipbuilding facilities and Civmec’s heavy engineering expertise to further strengthen our defence service offering.”