mower, they do use the name Watpac now (for about the last 15 months). Prior to that they traded under the name of Grant Constructions. For the transition period it was Grant Watpac but the Grant name has been consigned to history now. Interestingly, Steve Grant former owner of Grant Constructions uses Watpac on several large commercial projects. They have had a few large commercial buildings going up around Sydney - quite a lot around Sydney Olympic Park.
I think though that whilst they are building a good reputation in NSW for quality on time/on budget work, they need to be a bit more focused on the development side of things not just the tender stuff. They have provided themselves with a great pipeline of stock in Qld, often from the Seymour connection, but in NSW & Vic they need broader market experience & connections to provide similar projects, thus my comments in the previous post about strengtheneing the board with some NSW names.
Watpac of the future could be both builder & developer with individual business units. I guess a bit like Lend Lease & GPT were in times gone by.
WTP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
