RCR Tomlinson

RCR Tomlinson is a failed Australian multi-disciplined engineering company.

RCR Tomlinson
ASX: RCR
IndustryEngineering
Founded1898
FounderErnest Tomlinson
Edward Tomlinson
Headquarters
Sydney
,
Australia
Area served
Asia
Australasia
Key people
Bruce James (CEO)
Revenue$2.0 billion (2017/18)
OwnerPerpetual (14%)
Pendal Group (9%)
Number of employees
3,400 (November 2018)
DivisionsEnergy
Infrastructure
Resources
SubsidiariesHaden
O'Donnell Griffin
Resolve FM
Websitewww.rcrtom.com.au

History

In 1898, Tomlinson Bros was founded as an engineering company in Perth by Ernest and Edward Tomlinson.[1] In 1951 the company was floated.[2][3]

In 1981, Clyde Engineering that already held a 63% shareholding, launched a successful takeover bid.[4][5] In 1985 with a lack of work, Clyde proposed to close the business, however it was rescued in a management buyout.[6] In December 1996 RCR Tomlinson was formed when RCR Engineering and Tomlinson Bros merged.[3]

In the 2000s, it diversified into solar power projects.[7]

In November 2018, RCR Tomlinson was placed in voluntary administration.[8][9][10] The collapse came just three months after it had received a $100 million capital injection.[7] In December 2018, the O'Donnell Griffin rail business was sold to John Holland.[11]

It appears the Company was trading insolvent for many months before the collapse and investigations into the Directors are ongoing.[12]

References
  1. Tomlinson and Co Southern Cross Times 1 July 1939
  2. Tomlinson Steel The West Australian 22 June 1951 page 8
  3. Our History RCR Tomlinson
  4. In Brief Canberra Times 11 April 1981 page 22
  5. Tomlinson Steel Limited Delisted Companies
  6. Staff and unions rescue company Canberra Times 14 September 1985 page 9
  7. RCR Tomlinson administrators reveal debts of up to $630m from collapsed engineering firm ABC News 4 December 2018
  8. RCR Tomlinson to be split up and sold after staggering collapse Australian Financial Review 22 November 2018
  9. Circular to Suppliers McGrath Nicol 22 November 2018
  10. Engineering firm RCR Tomlinson goes into administration ABC News 23 November 2018
  11. John Holland buys RCR Tomlinson rail unit through administrators McGrathNicol The West Australian 21 December 2018
  12. https://www.afr.com/companies/infrastructure/rcr-tomlinson-insolvent-weeks-before-administration-20200417-p54kqu


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