Type Public Number of employees Circa 3,750 Headquarters Sydney, Australia Founded 1962 | Key people John Flecker, CEO Website www.multiplex.global Founder John Roberts Motto Built to Outperform | |
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Industry Construction, Engineering and Infrastructure Parent organization Brookfield Asset Management Profiles | ||
Multiplex is a leading international contractor.
Contents
History
Multiplex was founded in 1962 in Perth, Western Australia by John Roberts. It went on to build many large projects such as King Street Wharf in Sydney and Wembley Stadium.
In December 2003, it listed on the Australian Stock Exchange with the code of MXG, raising a total of A$1.2 billion.
Multiplex announced in late November 2006 that it planned to create a European real-estate fund to increase profits. Multiplex posted a preliminary financial report on 22 February 2007 which announced the group's net profit of A$295.6 million.
In January 2007 Multiplex faced a takeover bid which caused its share price to jump 17%. The A$4.03 billion proposal was never formally made and the potential bidder remained anonymous.
On 11 June 2007, Brookfield Asset Management proposed an acquisition of Multiplex which valued the company at approximately A$7.3 billion. The offer to shareholders of $5.05 per security was supported by the Multiplex board of directors, including the Roberts family, who sold their 26% ownership of Multiplex to Brookfield. The offer also proved popular with investors, with Brookfield rapidly acquiring 90% ownership of the company by 31 October 2007.
Brookfield acquired the remaining 10% of Multiplex securities and delisted the company from the ASX in November 2007. Brookfield published a statement to the ASX outlining its intentions following the acquisition of Multiplex.
Operations
The group employs approximately 3,888 people in Australasia and has operations and offices throughout Australia, the United Kingdom, Canada and the Middle East.
Projects
Multiplex's first project was the laying of a pipeline across the Mandurah estuary. Other construction projects include:
Australia
International
Australia
International
The Literacy for Life Foundation
In 2013, Multiplex became a founding partner of the Literacy for Life Foundation with National Health Research Institute - The Lowitja Institute and indigenous campaigner Professor Jack Beetson. The Literacy for Life Foundation was launched to improve literacy in Aboriginal adults.