Photo by: Creamer Media's Donna Slater
Engineering and contracting group Murray & Roberts (M&R) was unable to regain control of RUC, the Australian mining services business it lost when its Australian holding company, MPRL, and Clough entered voluntary administration in December 2022.
M&R has, therefore, started to capacitate a subsidiary company in Australia, Cementation APAC, to provide engineering and contracting services to its mining clients in the Asia-Pacific region.
M&R states in an October 4 update to shareholders that secured creditors of MPRL had, during a second creditors meeting held in Australia, approved a Deed of Company Arrangement, which preserved the option for a full sale or restructuring transaction to occur in the future.
This approval means M&R is unable to regain control of RUC.