Elders NZ in control of Kaiser
NZPA-AAP Melbourne Elders Resources NZFP, Ltd, has taken control of the United States-based Kaiser Engineers Group Inc, one of the world’s largest engineering design and construction consultancy companies. Announcing the acquisition yesterday, Elders gave no details about the price but said it was negotiating to sell the company’s operations outside Australia. Kaiser’s Australian arm, Kaiser Engineers Australia, Ltd, is involved in the second phase of the North West Shelf gas project, and is conducting a feasibility study of the Cape York space launch plan. In the past it has been involved in the Worsley alumina refinery, the Gladstone aluminium smelter, in Queensland, and was established in Australia in 1954 to construct the first stage of the Snowy Mountains scheme. Elders said it had negotiated with a consortium of banks to take control of the parent company by buying the subordinated debt Kaiser owed the banks. Kaiser provides project and construction management, planning and design engineering for the minerals, energy and transport industries.
It has offices throughout North America and in Beijing, Jakarta, London and South America, Elders said.
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Press, 17 June 1988, Page 18
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184Elders NZ in control of Kaiser Press, 17 June 1988, Page 18
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