RCR Tomlinson
RCR Tomlinson is a failed Australian multi-disciplined engineering company.
Traded as | ASX: RCR |
---|---|
Industry | Engineering |
Founded | 1898 |
Founder | Ernest Tomlinson Edward Tomlinson |
Headquarters | , Australia |
Area served | Asia Australasia |
Key people | Bruce James (CEO) |
Revenue | $2.0 billion (2017/18) |
Owner | Perpetual (14%) Pendal Group (9%) |
Number of employees | 3,400 (November 2018) |
Divisions | Energy Infrastructure Resources |
Subsidiaries | Haden O'Donnell Griffin Resolve FM |
Website | www.rcrtom.com.au |
History
In 1898, Tomlinson Bros was founded as an engineering company in Perth by Ernest and Edward Tomlinson.[1] In 1951 the company was floated.[2][3]
In 1981, Clyde Engineering that already held a 63% shareholding, launched a successful takeover bid.[4][5] In 1985 with a lack of work, Clyde proposed to close the business, however it was rescued in a management buyout.[6] In December 1996 RCR Tomlinson was formed when RCR Engineering and Tomlinson Bros merged.[3]
In the 2000s, it diversified into solar power projects.[7]
In November 2018, RCR Tomlinson was placed in voluntary administration.[8][9][10] The collapse came just three months after it had received a $100 million capital injection.[7] In December 2018, the O'Donnell Griffin rail business was sold to John Holland.[11]
It appears the Company was trading insolvent for many months before the collapse and investigations into the Directors are ongoing.[12]
References
- Tomlinson and Co Southern Cross Times 1 July 1939
- Tomlinson Steel The West Australian 22 June 1951 page 8
- Our History RCR Tomlinson
- In Brief Canberra Times 11 April 1981 page 22
- Tomlinson Steel Limited Delisted Companies
- Staff and unions rescue company Canberra Times 14 September 1985 page 9
- RCR Tomlinson administrators reveal debts of up to $630m from collapsed engineering firm ABC News 4 December 2018
- RCR Tomlinson to be split up and sold after staggering collapse Australian Financial Review 22 November 2018
- Circular to Suppliers McGrath Nicol 22 November 2018
- Engineering firm RCR Tomlinson goes into administration ABC News 23 November 2018
- John Holland buys RCR Tomlinson rail unit through administrators McGrathNicol The West Australian 21 December 2018
- https://www.afr.com/companies/infrastructure/rcr-tomlinson-insolvent-weeks-before-administration-20200417-p54kqu