Samsung C&T pays about $100m for Perth firm Powertech
Samsung C&T has bought Perth engineering firm Powertech in a deal worth about $100m, the AFR's Street Talk column reported on November 2.
Street Talk, the AFR’s deals column, reported on November 2 that Korean conglomerate Samsung C&T has acquired Powertech, a Perth engineering, procurement and construction business. The column put the price at about $100m.
Why it matters
The column framed the purchase as a way for Samsung C&T to gain skilled people as the energy transition builds. Its main draw is reportedly Powertech’s staff of roughly 300 engineers and technicians. The article was bylined Sarah Thompson, Kanika Sood and Angira Bharadwaj.
The numbers
Two figures come from the report: a price of about $100m and a team of around 300 engineers and technicians.
What’s next
The part of the column visible without an AFR subscription does not say when the sale completes, or whether Powertech will keep its own name. Related WA deal coverage: Ingenia’s scheme to buy Perth’s Peet.
Quick answers
What is the latest on Samsung C&T?
Samsung C&T has bought Perth engineering firm Powertech in a deal worth about $100m, the AFR's Street Talk column reported on November 2.
What are the key numbers in this story?
deal value: $100m; engineers, technicians: 300.
Where does this information come from?
This story cites Australian Financial Review (Street Talk). Every source is linked on the page.
Sources
Also reported by
- Australian Financial Review (Street Talk)Samsung C&T buys Perth's Powertech in $100m deal
Filed by the AusDev Perth Desk. How we report.