Yesterday Cardno announced its intention to demerge its quality, testing and measurement business from its consulting business – subject to shareholder and other approvals.
It is proposed that the following businesses will become a separate listed entity on the Australian Stock Exchange :
- Construction Sciences;
- Raba Kistner (CMT/Geotech/Environmental, US);
- T2/UES (Utility Engineering, US);
- PPI Quality and Engineering (Oil and Gas QA provider, US);
The demerger will only occur if the shareholders vote for it to occur, and if this is the case it will become effective in late October 2019. The new listed entity which will be created will be Intega Group Ltd and if successful, I see the proposed demerger as a very positive step for all of us. This will create a much simpler business as a whole and it will mean that not very much, if anything will change for more than 99% of our staff; the only changes I can see are for myself and the senior management team and I believe that all change will be for the better.
Chief Executive Officer