Belgian construction giant, Besix, is expected to be the answer to Watpac’s struggling growth.
Watpac announced to the ASX last Friday that Besix had recently gained an additional 36% interest in the Australian construction company.
Image source: AFR
The friendly takeover was welcomed by the Watpac board. “Besix’s increased ownership will give the company access to a broader range of services, capabilities, and markets,” said chairman Peter Watson.
The construction industry should expect further growth and advances coming from Watpac in the future, with Besix intending for Watpac to retain it’s established brand and heritage with increased growth prospects.
The Belgian firm has announced they will not be pursuing greater ownership of Watpac, so that it remains largely an Australian owned company.
Find the full article from AFR for more.
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