- Clough went into administration last week
- The 103-year old company had been impacted by ongoing labour and supply shortages
Italian company Webuild has reached an agreement to acquire fallen construction company Clough, which went into administration last week.
Administrators from Deloitte said the company will acquire Clough’s Australian assets including Snowy Hydro 2.0 and Inland Rail Contracts.
The parties have until 21 December to conclude the agreement.
Like many construction companies that have fallen this year, Clough has been impacted by ongoing supply and labour shortages.
Founded in 1919, Perth-based Clough has a workforce of 2,500 employees, with about half based in Australia. It has been noted for providing a range of sustainable and innovative solutions in the design, construction and maintenance of plants and infrastructure.
Landmark projects included the first high-rise in Perth the only underground freeway tunnel in Western Australia, Northbridge Tunnel, and the Narrows Bridge.
Webuild’s second largest market is Australia, after Italy.
Webuild recently finished work on the Airport railway line, which is the newest train line in Perth since the Mandurah Line opened in 2007.
