Established in 1983, Watpac (ASX: WTP) is a leading national construction and civil and mining services company listed on the Australian Securities Exchange.
With a history spanning more than three decades of growth and success, Watpac employs over 1,000 people in Brisbane, Sydney, Melbourne, Adelaide, Perth, Townsville and elsewhere throughout Australia.
Watpac’s competitive advantage comes from its diversified business strategy, combining the strength of its national reach and balance sheet with the depth of its local expertise and networks.
Our focus on customer intimacy allows us to deploy our skills as early and efficiently as possible, capturing value and minimising cost.
Watpac’s success story first began in 1983, when the company — then known as Watkins Pacific — established itself in Brisbane as a construction and property development business. After two years of rapid growth, which included completing projects such as the iconic Brisbane Entertainment Centre, Watpac listed on the Australian Securities Exchange in 1985.
In these formative years, Watpac stretched its operations further into Queensland, at one point opening offices in Cairns and the Gold Coast. In 1998, the company established its Townsville office, which continues to service the northern region of the state.
Over the past decade, Watpac’s strategy of growth through strategic acquisitions has seen the company broaden its services by expanding into New South Wales, the Australian Capital Territory, Victoria, South Australia, Western Australia and the Northern Territory.
Through major acquisitions of Grant Constructions in 2004, JA Dodd in 2007 and JMS in 2008, Watpac added mining services, civil infrastructure and civil landscaping to its portfolio of interstate construction capabilities and key disciplines. Today, Watpac’s Civil & Mining division employs around 40% of Watpac’s total national workforce, with active mining projects in Queensland, Victoria and Western Australia.
In April 2013, leading international construction company BESIX Group entered into an agreement to acquire a major shareholding in Watpac. This transaction was approved by the Foreign Investment Review Board in 2013. The strategic alliance will enable Watpac to retain its unique Australian heritage and local networks, while accessing the expertise and reach of an international industry leader.
Today, as we celebrate more than 30 years of growth and achievement, Watpac’s focus remains on consolidation and profitability as we continue to streamline operations, enhance our competitive positioning and create long-term, sustainable shareholder value.