A Western Australian building company has sold off its construction arm, with its cementitious division expected to be sold over the coming year.
BGC has revealed it recently sold its commercial building division, BGC Construction, to director Julian Ambrose via a share sale. It is anticipated that Mr Ambrose’s new venture will build affordable apartments in Western Australia.
The company also announced in the last few weeks that its Cementitious Division, which consists of Cement, Concrete, the Materials Technology Centre, Quarries, Transport and Asphalt, was for sale but this process is expected to take up to 12 months.
BGC CEO Daniel Cooper said after careful consideration and continued strong interest from a number of bidders, the company would sell the Cementitious division as a standalone business, a process already proven beneficial with the sale of its Plasterboard and Fibre Cement division last year.
“We believe that selling the Cementitious division separately will have enhanced strategic appeal to a number of bidders which should result in a better outcome for BGC, its customers and employees of the businesses involved,” Mr Cooper said.
Once WA’s largest home builder, the 65 year-old company, was split into different sections in 2014 and sold after its founder, architect Len Buckeridge, passed away.
Currently, the BGC Group has 16 businesses across residential and commercial construction as well manufacturing.
Image source: BGC Concrete
About the author
Desi Corbett
Desi is the Editor of Concrete in Australia and at the helm of our magazine for 8 years. She was behind the Institute's weekly news bulletins from 2016-2021 and is now writing our focused news items. Desi has been an engineering news and features journalist/editor across all disciplines since 2013 - part of a 30-year career writing for a wide range of industries.