Henry Walker Eltin

Henry Walker Eltin
Henry Walker Eltin
Formerly	Henry Walker Group
Type	Public
Traded as	ASX: HWE
Industry	Mining
Founded	1962
Founder	Neville Walker; Frazer Henry
Defunct	2006
Headquarters	Sydney, Australia
Revenue	$1.1 billion (2003/04)
Net income	$11 million (2003/04)
Number of employees	3,971 (June 2004)
Website	www.hwe.com.au

Henry Walker Eltin was a diversified Australian company with interests in the automotive, construction and mining sectors. It was the first Northern Territory company listed on the Australian Securities Exchange.

History

The history of Henry Walker Eltin can be traced back to 1962 when Henry Walker was founded as a civil engineering contractor by Neville Walker and Frazer Henry.

In the 1980s it diversified into the automotive sector with the Bridge Autos dealership in Darwin, Northern Territory that held franchises for the sale of Daewoos, Mercedes-Benzs and Toyotas.

It entered the contract mining sector in 1987. Eltin was established as an underground mining contractor in 1980. In May 1999 Henry Walker and Eltin merged to form Henry Walker Eltin. In April 2000, Simon Engineering was acquired.

In January 2005, HWE was placed in voluntary administration with EY as administrator. EY resigned the following day due to a conflict of interest with McGrathNicol appointed.

In March 2005 Simon Engineering was sold to Abigroup and the Northern Territory civil contracting business to Macmahon Holdings. In April 2005 Bridge Autos was sold to AP Eagers. In May 2005 the Western Australian civil construction business was sold to Clough.

In February 2006, the HWE Mining business was sold to Leighton Contractors marking the conclusion of the asset disposal program.

References

↑ Walker's injuries self inflicted: coroner ABC News 30 June 2005
1 2 3 Our history HWE Mining
↑ Henry Walker buys Simon Engineering Australian Financial Review 19 April 2000
↑ Voluntary Administrator Appointed Henry Walker Eltin 31 January 2005
↑ Resignation of Voluntary Administrators Henry Walker Eltin 1 February 2005
↑ Henry Walker Eltin chairman quits troubled firm ABC News 9 February 2005
↑ How Henry Walker Eltin imploded Crikey 2 February 20025
↑ Simon Engineering Australia sold to Abigroup McGrathNicol 3 March 2005
↑ Abigroup buys Simon Sydney Morning Herald 4 March 2005
↑ Purchase of HWE Northern Territory Civil Business Macmahon Holdings 16 March 2005
↑ Bridge Autos sold to AP Eagers McGrathNicol 5 April 2005
↑ Clough buys Henry Walker Eltin business to secure jobs and road projects Clough 18 May 2005
↑ Leighton Contractors to Purchase Henry Walker Eltin Limited Mining Assets Leighton Holdings 10 November 2005
↑ Leighton Holdings - proposed acquisition of Henry Walker Eltin Mining Australian Competition & Consumer Commission 25 November 2005
↑ Final HWE asset sold to Leighton Sydney Morning Herald 2 February 2006

[1] Walker's injuries self inflicted: coroner ABC News 30 June 2005

[History-2] 1 2 3 Our history HWE Mining

[3] Henry Walker buys Simon Engineering Australian Financial Review 19 April 2000

[4] Voluntary Administrator Appointed Henry Walker Eltin 31 January 2005

[5] Resignation of Voluntary Administrators Henry Walker Eltin 1 February 2005

[6] Henry Walker Eltin chairman quits troubled firm ABC News 9 February 2005

[7] How Henry Walker Eltin imploded Crikey 2 February 20025

[8] Simon Engineering Australia sold to Abigroup McGrathNicol 3 March 2005

[9] Abigroup buys Simon Sydney Morning Herald 4 March 2005

[10] Purchase of HWE Northern Territory Civil Business Macmahon Holdings 16 March 2005

[11] Bridge Autos sold to AP Eagers McGrathNicol 5 April 2005

[12] Clough buys Henry Walker Eltin business to secure jobs and road projects Clough 18 May 2005

[13] Leighton Contractors to Purchase Henry Walker Eltin Limited Mining Assets Leighton Holdings 10 November 2005

[14] Leighton Holdings - proposed acquisition of Henry Walker Eltin Mining Australian Competition & Consumer Commission 25 November 2005

[15] Final HWE asset sold to Leighton Sydney Morning Herald 2 February 2006