Murray & Roberts and Southern Palace Group today announced the purchase of the Murray & Roberts Southern African Infrastructure & Building (“I&B”) businesses, by a consortium led by the Southern Palace Group of Companies (Proprietary) Limited (“Southern Palace”). 

Murray & Roberts opts to participate in a R1.25bn 'voluntary' settlement agreement between construction companies.

Murray & Roberts pays CEO Henry Laas R14.7m in the financial year to June, including R6.4m in bonuses.

Murray and Roberts will focus on three core sectors in future — underground mining, oil and gas, and power and water, says group.

Construction firm Murray & Roberts is slapped with another multimillion-rand fine for involvement in collusive tendering in the buildup to the 2010 Fifa World Cup.

The suggestion that CEs of construction companies should sign a contract to make them personally liable in cases of collusion has been slated by the industry as a step too far.

Murray & Roberts' return to profitability, after two years of losses, comes amid the completion of projects that have caused the company major pain.

The results from large construction firms show an industry still stuck in a slump, but an increase in project activity may herald the beginning of a brighter period for the sector.

Construction group Murray & Roberts said on Wednesday that although it had made significant progress in resolving contractual claims, the estimated costs to complete, inclusive of penalties, on a number of major contracts increased significantly resulting in a loss for the year

The new CE designate of Murray & Roberts, Henry Laas, says he has no immediate solutions for the group's financial woes, he hinted that the group would target the mining sector.