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Lend Lease announces changes to Australian Construction and Infrastructure businesses

Lend Lease today announced it is restructuring its Australian construction and infrastructure business, through the consolidation of its Abigroup, Baulderstone, Project Management & Construction and Infrastructure Services businesses.

The strengths of these four businesses will be transitioned into sector-based businesses – one business in each of the building, engineering and infrastructure services sectors.

The new structure will take effect from 1 August 2013 and will create more effective and competitive operating businesses. It will enable greater leverage of skills and expertise, improved operational systems and efficiencies.

Lend Lease Group Chief Executive Officer and Managing Director, Steve McCann, said, “The transition will increase our capacity for growth and facilitate more robust end-to-end client solutions.

“The combination of core skills in each of these organisations will result in best-in-class delivery capabilities. We will have businesses that compete for the leading market position against our external competitors in each of the engineering, building and infrastructure services sectors.

“These existing businesses have a rich and long history and this next step of consolidation will acknowledge and build on the success of this proud history,” said Mr McCann.

The transition will be headed by Lend Lease’s Australian construction and infrastructure business leaders, Chief Executive Officer, David Saxelby, Chief Operating Officer, Dale Connor and Chief Financial Officer, Andrew Muller.

The branding of these businesses will be announced following stakeholder consultation during June and July.

ENDS

Investor Relations:
Suzanne Evans
Head of Investor Relations
Tel: 02 9236 6464

Media:
Georgie Morell
Head of External Affairs and Media
Tel: 0438 008 383

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