Latest news with #Christchurch-headquartered
Otago Daily Times
01-07-2025
- Business
- Otago Daily Times
Canadian company acquires Cosgroves
A Canadian company with an international reach in sustainable engineering and environmental consulting has bought Christchurch-headquartered engineering firm Cosgroves. The Toronto Stock Exchange and New York Stock Exchange-listed Stantec paid an undisclosed sum for its latest acquisition. Cosgroves has more than 90 staff across New Zealand and works with clients, architects, project managers and other professionals in consulting engineering on private and public building projects such as the redevelopment of the Christchurch Town Hall. Stantec said the addition of Cosgroves would expand its buildings engineering capabilities in New Zealand, particularly in fire engineering, electrical, mechanical, hydraulics, buildings sustainability, and civil expertise. Cosgroves was expected to support Stantec's growth in healthcare, advanced manufacturing and data centres. The acquisition will increase Stantec's market presence in New Zealand by about 10%, to more than 900 staff. Stantec president and chief executive officer Gord Johnston said bringing Cosgroves onboard would diversify its offerings and reinforce its position among top-ranked firms in New Zealand. "Our two firms have shared values and a history of working together, and our complementary strengths will support our strategic plan in a key region we've identified as a core area for growth." The combined Cosgroves and Stantec team sees itself nicely positioned to make the most of increased public funding in healthcare in the next decade, and to increase market share in New Zealand and Australia. Cosgroves founding director Brady Cosgrove said the company had delivered reliable, sustainably focused services for nearly 30 years and was now facing an exciting opportunity for growth. Stantec said it had experienced strong business growth in New Zealand in the water, transportation, and government sectors and expanded its regional footprint with the acquisition of Cardno, Traffic Design Group (TDG), and MWH. In 2019 Stantec bought Australian buildings engineering firm Wood & Grieve Engineers. Cosgroves has provided consulting engineering services for projects such as the Rutherford Regional Science and Innovation Centre at the University of Canterbury, Invercargill Central central business district redevelopment, Manukau Health Park, Christchurch Hospital's outpatients building and the development of the Court Theatre.
Otago Daily Times
30-06-2025
- Business
- Otago Daily Times
Christchurch engineering firm sold to Canadian company
A Canadian company with an international reach in sustainable engineering and environmental consulting has bought Christchurch-headquartered engineering firm Cosgroves. The Toronto Stock Exchange and New York Stock Exchange-listed Stantec paid an undisclosed sum for its latest acquisition. Cosgroves has more than 90 staff across New Zealand and works with clients, architects, project managers and other professionals in consulting engineering on private and public building projects such as the redevelopment of the Christchurch Town Hall. Stantec said the addition of Cosgroves would expand its buildings' engineering capabilities in New Zealand, particularly in fire engineering, electrical, mechanical, hydraulics, buildings' sustainability, and civil expertise. Cosgroves was expected to support Stantec's growth in healthcare, advanced manufacturing and data centres. The acquisition will increase Stantec's market presence in New Zealand by about 10%, to more than 900 staff. Stantec president and chief executive officer Gord Johnston said in a statement bringing Cosgroves on board would diversify its offerings and reinforce its position among top-ranked firms in New Zealand. ''Our two firms have shared values and a history of working together, and our complementary strengths will support our strategic plan in a key region we've identified as a core area for growth.' The combined Cosgroves and Stantec team sees itself nicely positioned to make the most of increased public funding in healthcare in the next decade, and to increase market share in New Zealand and Australia. Cosgroves founding director Brady Cosgrove said the company had delivered reliable, sustainably focused services for nearly 30 years and was now facing an exciting opportunity for growth. 'In joining Stantec, we are positioning ourselves to capitalise on increased investments through our local relationships and Stantec's international experience, while providing our staff with expanded opportunities to work on national and international projects.' Stantec said it had experienced strong business growth in New Zealand in the water, transportation, and government sectors and expanded its regional footprint with the acquisition of Cardno, Traffic Design Group (TDG), and MWH. In 2019 Stantec also bought Australian buildings engineering firm Wood & Grieve Engineers. Previously Cosgroves has provided consulting engineering services for projects such as the Rutherford Regional Science and Innovation Centre at the University of Canterbury, Invercargill Central redevelopment to breathe life back into the central business district, Manukau Health Park, Canterbury District Health Board's Outpatients Building and the development of The Court Theatre.
NZ Herald
13-05-2025
- Business
- NZ Herald
Allevia Hospital Epsom project is NZ's biggest private hospital expansion
Allevia Hospital Epsom after a $150 million expansion. The property is on Mountain Rd. New Zealand's largest private hospital expansion under way is nearly finished in a $150 million job. Christchurch-headquartered Leighs Construction won the contract on the Auckland hospital, once known as Mercy Epsom, 98 Mountain Rd. It is now called Allevia Hospital Epsom. Dr Ian England, chief executive
Otago Daily Times
11-05-2025
- Business
- Otago Daily Times
'Another challenging year' for red meat company
Tight margins in a challenging second half of 2024 have hit the pockets of major red meat processor and exporter ANZCO Foods, but it made a profit nonetheless. The Christchurch-headquartered company with seven processing and three manufacturing sites across Aotearoa recorded a net profit of $8.4 million in the year to December, down from the $44.4m after-tax profit last year. Chief executive Peter Conley said it was another challenging year for farmers and the red meat sector. "Lower market returns, especially during the main processing season squeezed margins and impacted business performance," he said. "Global market pricing for beef and lamb improved in the second half of the year with increased consumer demand in key markets including North Asia, USA, Canada, UK and Europe." He said China was the most challenging market last year. "China has seen slower economic activity, and this reduced demand impacted beef and sheep meat returns," he said. Conley said its sites were fully staffed through the year, which helped drive higher revenue "through additional product recoveries". Looking to 2025, he said there were continued strengths in key markets like North America particularly for beef, and the United Kingdom and European Union for sheepmeat, but China remained sluggish. "The 2025 year has started positively but with new uncertainty as geopolitical tensions and tariff implications are yet to be fully understood," he said. "However, the underlying outlook for beef and lamb is positive with improving economic conditions driving increased demand amid global supply constraints." In relation to its United States business, Conley said it had been able to maintain pricing and pass on the costs to the American end of the chain, as it continued to benefit from the region's insatiable hunger for beef. ANZCO Foods was one of the country's largest exports with an annual turnover of $1.85 billion and nearly 3000 employees globally.
