Murray & Roberts sells off structural steel business
Fixed assets of Hall Longmore, the last remaining company ‘to be disposed of in Murray & Robert’s Construction Products Africa unit of companies’, sold off at net book value
South African construction firm Murray & Roberts recently announced the sale of its Hall Longmore pipe, pilings and structural steel business.
A report by Business Day states that the fixed assets of Hall Longmore, the last remaining company ‘to be disposed of in Murray & Robert’s Construction Products Africa unit of companies’, were sold off at net book value.
Following earlier reports in the industry where Murray & Roberts had claimed only a ‘limited strategic fit’ between all its other, previously-disposed businesses and the group’s growth aspirations, the company was reportedly “pleased” with the recent disposal and value achieved from the transaction.
Murray & Roberts Construction was formed through a merger between Murray & Roberts Construction and Concor in 2011. Its operating division, Murray & Roberts Contractors Middle East, is a well-known member of the UAE construction market.
This report is an excerpt from Big Project ME‘s April 2014 special supplement for steel.
