Statement issued by BGC (Australia) Pty Ltd in relation to the sale of the BGC Group
The Board of BGC (Australia) Pty Ltd will undertake an orderly divestment of the Group, in order to give effect to the amendments to the Will of Len Buckeridge which have been agreed to by Len's family.
The Board will carry out the divestment in a considered, informed and methodical manner which may take a significant amount of time to finalise. There is no time pressure being placed on the completion of the divestment process. In the meantime, it is business as usual for all of BGC’s operating companies and divisions.
BGC (Australia) is one of the nation’s biggest and most diverse privately-owned companies with an annual turnover in excess of $2.5 billion. The Group comprises a number of companies and businesses, significant and varied capital assets and a diverse portfolio of property holdings and investments.
Our vertically integrated operations span residential and commercial building, the manufacture of building and construction products, contract mining, engineering construction, the manufacture and maintenance of structural and mechanical equipment, quarrying, road transport, property ownership and management and insurance.
Our people are at the heart of our business and through the efforts of our more than 4,300 staff and our valued contractors, the BGC brand has become synonymous with quality, integrity, innovation and value.
The Directors are committed to the continuing success of the business, in the interest of all its stakeholders, not least its people.
We have a strong pipeline of long-term work valued in excess of $2.7 billion and our priority will be to ensure that we continue to support our people to deliver quality outcomes for our clients and business partners.
We will continue to keep all of our valued stakeholders including our people, our clients and our supply partners informed as and when there are developments to report.