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| name = SMEC Holdings Limited
| name = SMEC Holdings Limited
| logo = SMEC Holdings logo.jpg
| logo = SMEC Holdings logo.jpg
| former_name = Snowy Mountains Engineering Corporation
| caption =
| type = [[Subsidiary]]
| type = [[Subsidiary]]
| traded_as =
| genre = <!-- Only used with media and publishing companies -->
| fate =
| fate =
| predecessor =
| predecessor =
| successor =
| successor =
| foundation = <!-- {{Start date|YYYY|MM|DD}} -->
| foundation = 24 June 1970
| founder = [[Australian Government]]
| founder = [[Government of Australia]]
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| defunct =
| location_city = [[Melbourne]]
| location_city = [[Melbourne]]
| location_country = [[Australia]]
| location_country = Australia
| locations =
| locations =
| area_served = Global
| area_served = Global
| key_people = Andrew Goodwin (CEO)
| key_people = Hari Poologasundram (CEO)
| industry =
| industry =
| products =
| services = [[Consulting]]
| production =
| services = Consulting
| revenue =
| revenue =
| operating_income =
| operating_income =
| net_income =
| net_income =
| assets =
| num_employees = 5,000 (2022)
| equity =
| parent = [[Surbana Jurong]]
| owner = [[Surbana Jurong]]
| num_employees =
| parent =
| divisions =
| divisions =
| subsid =
| subsid =
| homepage = {{URL|http://www.smec.com/}}
| homepage = {{URL|http://www.smec.com/}}}}
| footnotes =
| intl =
}}
⚫
'''SMEC Holdings Limited''' (formerly '''Snowy Mountains Engineering Corporation''') is an [[Australia]]n based-firm that provides consulting services on major infrastructure projects around the world. SMEC undertakes feasibility studies, design, tender and contract management, construction supervision and project management. The company provides engineering services for transport, hydropower and energy, water and environment and resources projects. It's head office is located in [[Melbourne]], [[Victoria (Australia)|Victoria]].<ref name=overview>{{cite web |url=http://www.smec.com/about-smec/company-overview |title=Company Overview |publisher=SMEC |accessdate=20 September 2012}}{{self-published inline|date=October 2016}}</ref>


⚫
'''SMEC Holdings Limited''' (formerly '''Snowy Mountains Engineering Corporation''') is an Australian based-firm that provides consulting services on major infrastructure projects around the world. SMEC undertakes feasibility studies, design, tender and contract management, construction supervision and project management. The company provides engineering services for transport, hydropower and energy, water and environment and resources projects. Its head office is located in [[Melbourne]], [[Victoria, Australia|Victoria]]. Founded by the [[Government of Australia]], since 2016 it has been a subsidiary of [[Surbana Jurong]].
On 1 August 2016, Singapore-based [[Surbana Jurong]] announced it had acquired SMEC for US$298 million (S$400 million).<ref>{{Cite web|url=http://www.railwaygazette.com/news/business/single-view/view/surbana-jurong-acquires-smec.html|title=Surbana Jurong acquires SMEC|work=DVV Media (UK) |access-date=4 August 2016}}</ref>


==Background==
==Background==
⚫
Between 1949 and 1974 the Snowy Mountains Authority (SMA) undertook a massive hydro-electric and irrigation project, the [[Snowy Mountains Scheme]], in the [[Snowy Mountains]] of [[New South Wales]]. The work included sixteen dams, seven power stations, {{convert|150|km}} of tunnels, {{convert|80|km}} of aqueducts, {{convert|2000|km}} and much other construction. It was completed on time and within budget. The work showcased Australian engineering, and in the 1960s the SMA was given projects in Thailand, Sabah, Papua New Guinea and Cambodia.<ref name=porter/>

⚫
Between 1949 and 1974 the Snowy Mountains Authority (SMA) undertook a massive hydro-electric and irrigation project, the [[Snowy Mountains Scheme]], in the [[Snowy Mountains]] of [[New South Wales]]. The work included sixteen dams, seven power stations, {{convert|150|km}} of tunnels, {{convert|80|km}} of aqueducts, {{convert|2000|km}} and much other construction. It was completed on time and within budget. The work showcased Australian engineering, and in the 1960s the SMA was given projects in Thailand, Sabah, Papua New Guinea and Cambodia.<ref name=porter/>


==History==
==History==
⚫
In 1970 the Snowy Mountains Engineering Corporation (SMEC) was established to preserve and market the expertise that SMA had acquired.<ref>[https://trove.nla.gov.au/newspaper/article/110326104 Authority bill passes all stages] ''[[Canberra Times]]'' 11 June 1970 page 13</ref> Many of the early projects were funded by the [[Australian International Development Assistance Bureau]] (AIDAB).<ref name=porter>{{cite book |last1=Porter|first1=Doug|last2=Allen|first2=Bryant James|last3=Thompson|first3=Gaye|title=Development in Practice: Paved With Good Intentions |url=https://books.google.com/books?id=DpgOAAAAQAAJ&pg=PA36|accessdate=20 September 2012 |year=1991|publisher=[[Routledge]]|isbn=978-0-415-06626-6 |page=36}}</ref> By 1991, the Snowy Mountains Engineering Corporation (SMEC) was a public company with 220 staff. The company was wholly owned by the Government of Australia, and provided engineering consulting and project management services around the world.<ref>{{cite book |author=[[Australian Bureau of Statistics]]|title=Year Book Australia, 1991 No. 74 |url=https://books.google.com/books?id=_PD0NBiCUL8C&pg=PA621 |year=1991 |accessdate=20 September 2012 |publisher=[[Australian Bureau of Statistics]]|id=GGKEY:Q27G1441W40 |page=621}}</ref> SMEC became a Commonwealth Government owned public company in 1989, and in 1993 SMEC was sold by the government in a [[management buyout]].<ref>[https://www.smec.com/our-story/ Our Story] SMEC</ref><ref>[https://www.trove.nla.gov.au/newspaper/article/126926036 Snowy a model for privatisation] ''Canberra Times'' 31 January 1994 page 10</ref>


⚫
In August 2016 SMEC was implicated in alleged corporate bribery incidents in both [[Sri Lanka]] and the [[Democratic Republic of the Congo|Congo]], after the firm sought to secure multi-million dollar contracts in those countries.<ref>{{cite news |url=http://www.abc.net.au/7.30/content/2016/s4526108.htm |title=Australian companies embroiled in bribery scandals in Sri Lanka and Congo |author=McKenzie, Nick |author2=Freudenthal, Emmanuel|format=transcript |work=[[7.30]] |publisher=[[ABC TV (Australian TV channel)|ABC TV]] |location=Australia |date= 24 August 2016|accessdate=8 October 2016 }}</ref><ref>{{cite news |url=http://www.smh.com.au/business/australian-companies-linked-to-bribe-scandals-in-sri-lanka-and-congo-20160823-gqyzlp.html |title=Australian companies linked to bribe scandals in Sri Lanka and Congo |author=McKenzie, Nick |author2=Freudenthal, Emmanuel|authorlink3=Michael Bachelard |author3=Bachelard, Michael |author4=Baker, Richard |work=[[Sydney Morning Herald]] |date=24 August 2016 |accessdate=8 October 2016 }}</ref>
⚫
In 1970 the Snowy Mountains Engineering Corporation (SMEC) was established to preserve and market the expertise that SMA had acquired. Many of the early projects were funded by the [[Australian International Development Assistance Bureau]] (AIDAB).<ref name=porter>{{cite book |last1=Porter|first1=Doug|last2=Allen|first2=Bryant James|last3=Thompson|first3=Gaye|title=Development in Practice: Paved With Good Intentions |url=http://books.google.com/books?id=DpgOAAAAQAAJ&pg=PA36|accessdate=20 September 2012 |year=1991|publisher=Routledge|isbn=978-0-415-06626-6 |page=36}}</ref> By 1991, the Snowy Mountains Engineering Corporation (SMEC) was a public company with 220 staff. The company was wholly owned by the Australian Government, and provided engineering consulting and project management services around the world.<ref>{{cite book |author=Australian Bureau of Statistics|title=Year Book Australia, 1991 No. 74 |url=http://books.google.com/books?id=_PD0NBiCUL8C&pg=PA621 |year=1991 |accessdate=20 September 2012 |publisher=[[Australian Bureau of Statistics]]|id=GGKEY:Q27G1441W40 |page=621}}</ref> SMEC became a Commonwealth Government owned public company in 1989, and in 1993 SMEC was sold to staff by the government.<ref name=history>{{cite web |url=http://www.smec.com/about-smec/company-history |title=Company History |publisher=SMEC |accessdate=20 September 2012}}</ref> SMEC's total revenue in the 2012 financial year was $420 million.<ref>{{cite web |url=http://www.ibisworld.com.au/car/default.aspx?entid=6593 |author=Ibis World |title=SMEC Holdings Limited - Premium Company Report Australia |date=30 June 2012 |accessdate=20 September 2012}}</ref> SMEC's total revenue in the 2015 financial year was A$537 million.{{fact|date=September 2015}} As of 2015 SMEC had over 5,400 employees around the world.<ref name=overview/>


In August 2016, SMEC was bought by Singapore-based [[Surbana Jurong]] for around $400 million.<ref>[https://www.afr.com/companies/multimillion-dollar-payday-for-smec-investors-after-surbana-sale-20160803-gqjyq6 Multi-million payday for SMEC investors after Surbana sale] ''[[Australian Financial Review]]'' 3 August 2016</ref><ref>{{Cite web|date=2017-09-29|title=SMEC hit with World Bank sanctions over allegations of misconduct|url=https://www.abc.net.au/news/2017-09-29/smec-hit-by-world-bank-ban-over-bribery-allegations/9001772|access-date=2020-07-27|website=[[ABC News (Australia)|ABC News]]|language=en-AU}}</ref><ref>[http://www.railwaygazette.com/news/business/single-view/view/surbana-jurong-acquires-smec.html Surbana Jurong acquires SMEC] ''[[Railway Gazette International]]''</ref>
⚫
In August 2016 SMEC was implicated in alleged corporate bribery incidents in both [[Sri Lanka]] and the [[Democratic Republic of the Congo|Congo]], after the firm sought to secure multi-million dollar contracts in those countries.<ref>{{cite news |url=http://www.abc.net.au/7.30/content/2016/s4526108.htm |title=Australian companies embroiled in bribery scandals in Sri Lanka and Congo |author=McKenzie, Nick |author2=Freudenthal, Emmanuel |format=transcript |work=[[7.30]] |publisher=[[ABC1|ABC TV]] |location=Australia |date= 24 August 2016|accessdate=8 October 2016 }}</ref><ref>{{cite news |url=http://www.smh.com.au/business/australian-companies-linked-to-bribe-scandals-in-sri-lanka-and-congo-20160823-gqyzlp.html |title=Australian companies linked to bribe scandals in Sri Lanka and Congo |author=McKenzie, Nick |author2=Freudenthal, Emmanuel |author3=Bachelard, Michael |author4=Baker, Richard |work=[[The Sydney Morning Herald]] |date=24 August 2016 |accessdate=8 October 2016 }}</ref>


==References==
==References==
{{Reflist}}
{{reflist |colwidth=30em}}


{{Authority control}}


[[Category:Multinational companies headquartered in Australia]]
[[Category:Companies based in Melbourne]]
[[Category:Holding companies of Australia]]
[[Category:Consulting firms established in 1970]]
[[Category:Consulting firms of Australia]]
[[Category:1970 establishments in Australia]]

Latest revision as of 08:47, 24 August 2024

SMEC Holdings Limited
FormerlySnowy Mountains Engineering Corporation
Company typeSubsidiary
Founded24 June 1970
FounderGovernment of Australia
Headquarters
Melbourne
,
Australia
Area served
Global
Key people
Hari Poologasundram (CEO)
ServicesConsulting
Number of employees
5,000 (2022)
ParentSurbana Jurong
Websitewww.smec.com

SMEC Holdings Limited (formerly Snowy Mountains Engineering Corporation) is an Australian based-firm that provides consulting services on major infrastructure projects around the world. SMEC undertakes feasibility studies, design, tender and contract management, construction supervision and project management. The company provides engineering services for transport, hydropower and energy, water and environment and resources projects. Its head office is located in Melbourne, Victoria. Founded by the Government of Australia, since 2016 it has been a subsidiary of Surbana Jurong.

Background

[edit]

Between 1949 and 1974 the Snowy Mountains Authority (SMA) undertook a massive hydro-electric and irrigation project, the Snowy Mountains Scheme, in the Snowy Mountains of New South Wales. The work included sixteen dams, seven power stations, 150 kilometres (93 mi) of tunnels, 80 kilometres (50 mi) of aqueducts, 2,000 kilometres (1,200 mi) and much other construction. It was completed on time and within budget. The work showcased Australian engineering, and in the 1960s the SMA was given projects in Thailand, Sabah, Papua New Guinea and Cambodia.[1]

History

[edit]

In 1970 the Snowy Mountains Engineering Corporation (SMEC) was established to preserve and market the expertise that SMA had acquired.[2] Many of the early projects were funded by the Australian International Development Assistance Bureau (AIDAB).[1] By 1991, the Snowy Mountains Engineering Corporation (SMEC) was a public company with 220 staff. The company was wholly owned by the Government of Australia, and provided engineering consulting and project management services around the world.[3] SMEC became a Commonwealth Government owned public company in 1989, and in 1993 SMEC was sold by the government in a management buyout.[4][5]

In August 2016 SMEC was implicated in alleged corporate bribery incidents in both Sri Lanka and the Congo, after the firm sought to secure multi-million dollar contracts in those countries.[6][7]

In August 2016, SMEC was bought by Singapore-based Surbana Jurong for around $400 million.[8][9][10]

References

[edit]
  1. ^ a b Porter, Doug; Allen, Bryant James; Thompson, Gaye (1991). Development in Practice: Paved With Good Intentions. Routledge. p. 36. ISBN 978-0-415-06626-6. Retrieved 20 September 2012.
  2. ^ Authority bill passes all stages Canberra Times 11 June 1970 page 13
  3. ^ Australian Bureau of Statistics (1991). Year Book Australia, 1991 No. 74. Australian Bureau of Statistics. p. 621. GGKEY:Q27G1441W40. Retrieved 20 September 2012.
  4. ^ Our Story SMEC
  5. ^ Snowy a model for privatisation Canberra Times 31 January 1994 page 10
  6. ^ McKenzie, Nick; Freudenthal, Emmanuel (24 August 2016). "Australian companies embroiled in bribery scandals in Sri Lanka and Congo" (transcript). 7.30. Australia: ABC TV. Retrieved 8 October 2016.
  7. ^ McKenzie, Nick; Freudenthal, Emmanuel; Bachelard, Michael; Baker, Richard (24 August 2016). "Australian companies linked to bribe scandals in Sri Lanka and Congo". Sydney Morning Herald. Retrieved 8 October 2016.
  8. ^ Multi-million payday for SMEC investors after Surbana sale Australian Financial Review 3 August 2016
  9. ^ "SMEC hit with World Bank sanctions over allegations of misconduct". ABC News. 2017-09-29. Retrieved 2020-07-27.
  10. ^ Surbana Jurong acquires SMEC Railway Gazette International
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