Ownership
Jardine Matheson took a minority interest in Gammon in 1969 and it became a public company in 1970. Then in 1975, Jardines acquired the remaining shareholding and thus Gammon became a wholly owned subsidiary of Jardines. In late 1983 Jardine Matheson sold 50 percent of Gammon to Trafalgar House, a UK based company involved in construction, shipping and property. In India Gammon, was taken over in 1991 by Abhijit Rajan. In Pakistan Gammon was taken over by the Bibojee Group. Gammon then became the preferred constructor throughout the Asia-Pacific region for both Jardines and Trafalgar House. In 1996, Kvaerner took over Trafalgar House thereby acquiring its 50% interest in the Gammon. Skanska acquired all of Kvaerner's construction businesses (including Gammon) in late 2000. Balfour Beatty, the international engineering, construction and services group, subsequently purchased Skanska's 50% in Gammon in 2004.
Read more about this topic: Gammon Construction
Famous quotes containing the word ownership:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)