Fulton Hogan buys Taranaki roading firm

Unlisted public construction and roading firm Fulton Hogan has purchased Taranaki firm D and L Crow, it announced today.

Fulton Hogan bought the company - including Vision Roads - from retiring owners Don and Leonie Crow for an undisclosed sum.

The well-established roading company has a staff of 55 with its head office in New Plymouth, a depot at Stratford and a quarry at Okato.

Fulton's North Island manager Grant Borrie said all staff would be retained and further positions would be added where appropriate.

He said Fulton Hogan had already worked on some contracts in the Taranaki area, mainly involving water utilities and upgrade projects as well as a design-build contract for the New Plymouth District Council.

"The new purchase means we will now have a permanent presence," he said.

Peter Matheson, an engineer with Fulton for 18 years, will move from Central Otago to head the Taranaki business.

Fulton Hogan employs 3400 staff. Last year it reported a net profit of over $55 million on revenue of $891m.

Shell New Zealand is a significant Fulton stakeholder.

- NZPA