Transfield Holdings

Transfield Holdings is a privately owned Australian investment company with experience in industrial services, infrastructure, and renewable energy.

For the company that provides infrastructure maintenance services and formerly known as Transfield Services, see Broadspectrum.

Transfield Holdings
Founded1956
FounderFranco Belgiorno-Nettis
Carlo Salteri
Headquarters
Walsh Bay
,
Australia
OwnerGuido Belgiorno-Nettis
Luca Belgiorno-Nettis
Websitetransfield.com.au

History

Transfield Holdings's origins can be traced to 1956 when an Italian-born immigrant electrical engineer, Franco Belgiorno-Nettis, who was joined soon after by Carlo Salteri, a former colleague from Electric Power Transmission, an offshoot of Milan based Societa' Anonima Elettrificazione, which was constructing powerlines. The logo, designed by Belgiorno-Nettis, reflected its electricity industry origins; it was intended to represent a high-voltage transmission tower, with an accompanying red electrical spark.[1]

Transfield's first contract was for the fabrication and installation of a soaking pit and slab mill for Australian Iron & Steel at Port Kembla. In May 1957, sixteen hectares of land was purchased in the Western Sydney suburb of Seven Hills. In 1958 Transfield won its first major contract, to build of the powerline from Magill to Port Augusta in South Australia. Another early project, was a chairlift at Thredbo, the longest in the world at the time.[2]

In 1965, subsidiary Transavia Corporation commenced producing the Transavia PL-12 Airtruk agricultural aircraft.[3]

Together Belgiorno-Nettis and Saltieri built Transfield into one of Australia's most successful companies focused on major engineering projects such as bridges, tunnels, dams, hydroelectric and coal power stations, oil rigs, concert halls, sugar mills and power lines. Included in Transfield's list of achievements are the construction of the Gateway Bridge in Brisbane and the Sydney Harbour Tunnel. By the early 1980s, Transfield had in excess of 3,000 employees and an annual turnover of $350 million. Within five years it grew to be the biggest engineering firm in southeast Asia. When visiting Australia in 1986 Pope John Paul II toured the Transfield factory located at Seven Hills.[1][4]

Transfield established a naval shipbuilding capability in Australia with the acquisition of Williamstown Dockyard in Melbourne in 1989. In the early 1990s, it built two Oliver Hazard Perry class frigates for the Royal Australian Navy.[5]

In 1989, Belgiorno-Nettis and Salteri stood down as joint managing directors in favour of their eldest sons, Marco Belgiorno-Zegna and Paul Salteri.[6]

After a dispute between Belgiorno-Nettis and Salteri in 1995, the business was split, with the Belgiorno-Nettis family taking the construction and infrastructure side of the business, and the Salteris the defence and shipbuilding work under the name Tenix.[7]

In May 2001, the operations and maintenance division was spun-off and listed on the Australian Securities Exchange as Transfield Services with Transfield Holdings having a 45% shareholding.[8][9][10] In December 2002, the construction business was sold to John Holland.[11]

In September 2014, Transfield Holdings sold its remaining shareholding in Transfield Services.[12] In 2015, Transfield Holdings transformed from a private equity business into an investment holding company, managed by the respective family offices of Guido and Luca Belgiorno-Nettis.[13]

Major projects

Major projects undertaken included:

Investments

Past

Patronage of the Arts

During its first fifty years of operations Transfield's contribution to the arts has enriched and changed for good Australia's cultural landscape. It has always been Franco Belgiorno-Nettis' cherished belief that inventiveness in new art is encouraging innovation in business and industry. He often stated that "artists and engineers have a lot in common: they both have an idea and make it concrete". Franco also, as he put it, "felt I could be an unofficial ambassador, use Transfield to build a link between Italian and Australian culture".[30]

The Transfield Art Prize

In 1961 the company launched the Transfield Art Prize, at that time the richest in Australia, at £1,000. The Prize made a significant contribution in developing the wealth of talent among Australian artists, launched some of them to international notoriety, such as Fred Williams, the 1964 winner, and gave Transfield the opportunity to establish close links with the Australian political, financial and business world. The Prize was discontinued in 1971, when Transfield realised that something else could be done in a more meaningful way.[31]

The winners were:[32]

  1. 1961 - John Molvig, City Industrial
  2. 1962 - Andrew Sibley, Bathers
  3. 1963 - Maximillion Feuerring, Still Life
  4. 1964 - Fred Williams, You Yangs
  5. 1965 - Roger Kemp, Genesis
  6. 1966 - Norma Redpath, Immortal Warrior
  7. 1967 - William Rose, Painting
  8. 1968 - John Peart, Bivuac
  9. 1969 - Ron Robertson-Swann, Sydney Summer
  10. 1970 - Bill Clements, Ready for 6th August
  11. 1971 - Aleks Danko, Carnival

The Australian Book Review - Transfield Book Production Awards

in 1963, the company, in association with the Australian Book Review, launched the Australian Book Review-Transfield Book Production Awards, aimed at raising the standard of literary culture and design of quality books in Australia. The £350 Awards were made until 1968.[33]

The Foundry

In June 1968, Transfield established, at a cost of $25,000, the first Australian foundry for sculpture at its Seven Hills factory, making these facilities available to artists at subsidised cost. Franco was particularly fond of his Sculpture Studio, where he cast his own works.[33]

Biennale of Sydney

It was the establishment of the Biennale of Sydney, in November 1973, that constitutes the most important contribution to Australian and international arts by Transfield. From 1973, when Prime Minister Gough Whitlam officially opened the first Biennale at the newly opened Sydney Opera House until today, Transfield has been the major sponsor of this event. During the span of over 30 years, the company probably invested over $6 million in-kind and cash to the fifteen Biennales. Amongst other contributions, it refurbished the Biennale venues at Pier 2/3 and Bond Store 4, Walsh Bay for three Biennales. It has also provided three chairmen, including Franco, Guido and Luca Belgiorno-Nettis.[34]

References
  1. History Broadspectrum
  2. New Kosciusko Chairlft Canberra Times 26 June 1958 page 1
  3. Taylor, John W. R. (1988). Jane's All the Worlds Aircraft 1988-89. Coulsdon, Surrey, UK: Jane's Information Group. p. 7. ISBN 0-7106-0867-5.
  4. "Carlo Salteri AC". Public notice. Tenix Group. October 2010. Archived from the original on 27 September 2011. Retrieved 31 May 2011.
  5. Anthony, Ian (1990). The Naval Arms Trade. Stockholm International Peace Research Institute. p. 85. ISBN 978-0198291374.
  6. "Transfield co-founder Carlo Salteri dies". The Age. Australia. 13 October 2010. Retrieved 31 July 2011.
  7. Transfield partners go to war Australian Financial Review 27 July 1998
  8. Transfield seeking $10m from Seven Hills auction Sydney Morning Herald 17 February 2001
  9. Commencement of Official Quotation - Transfield Services Limited Australian Securities Exchange 30 April 2001
  10. Distribution of Shareholders as at 9/05/2001 Transfield Services 9 May 2001
  11. Family sells Transfield assets Sydney Morning Herald 13 December 2002
  12. Transfield Holdings sells it shares in Transfield Services Transfield Holdings 9 September 2014
  13. Management Transfield Holdings
  14. "Power Houses". Transfield Holdings. Retrieved 22 May 2020.
  15. "1960's Electric Memories". Queensland Energy Exhibition Centre. Retrieved 22 May 2020.
  16. Structurae: Gateway Bridge (1986), retrieved 26 November 2008
  17. Stitube - costs on completion Canberra Times 17 May 1987 page 13
  18. Sydney motorists to get harbour tunnel Canberra Times 14 March 1986 page 3
  19. "Building bridges with Asia". Transfield Holdings. Retrieved 22 May 2020.
  20. Toll road contract sealed Canberra Times 22 October 1995 page 5
  21. Bouygues investit 13 millions de $ à Sydney Le Courrier Australien 10 March 1995 page 15
  22. "Securing east coast gas". Australian Pipeliner. 16 March 2016. Retrieved 22 May 2020.
  23. Transfield Thiess joint venture of the City Northern Bypass Archived 27 January 2018 at the Wayback Machine Minister for Transport 13 November 1996
  24. Investments Transfield Holdings
  25. Sydney Airport Rail Link Transfield Holdings
  26. Brisbane Airtrain Transfield Holdings
  27. "Transfield Shipbuilding". Naval Historical Society of Australia. 3 September 1993. Retrieved 22 May 2020.
  28. Perisher Transfield Holdings
  29. Melbourne CityLink Transfield Holdings
  30. "Transfield's Patronage of the Arts. Chapter 2". Transfield Holdings The first 60 Years. Retrieved 8 October 2020.
  31. "Transfield's Patronage of the Arts. Chapter 3". Transfield Holdings The first 60 Years. Retrieved 8 October 2020.
  32. "ArtTransfield website. The Transfield Art Prize". Art Transfield. Retrieved 21 January 2021.
  33. "Transfield's Patronage of the Arts. Chapter 4". Transfield Holdings The first 60 Years. Retrieved 8 October 2020.
  34. "Transfield's Patronage of the Arts. Chapter Six". Transfield Holdings The first 60 Years. Retrieved 8 October 2020.
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