{{Use dmy dates|date = April 2020}} {{Use Australian English|date=April 2020}} {{Infobox company | name = Walter Construction Group Limited | logo = Walter Construction Group Logo.jpg | size = | caption = | former_name = Concrete Constructions | type = Privately held company | industry = Construction | fate = Bankruptcy | founded = 21 April 1920 | founder = Allen Lewis | defunct = 2005 | hq_location = | hq_location_city = Sydney | hq_location_country = Australia | area_served = Australia | revenue = $500 million (2005) | num_employees = 1,000 | num_employees_year = 2005 | parent = {{interlanguage link|Walter Bau|de}} | website = [https://web.archive.org/web/20040201165237/http://www.walter.net.au/ www.walter.net.au] }}
thumb|The company's logo prior to its rebranding as Walter Construction Group
'''Walter Construction Group Limited''', known for most of its life as Concrete Constructions Pty Ltd,<ref>{{Cite news |date=1995-05-22 |title=TODAY'S LAW LIST |pages=6 |work=Canberra Times (ACT : 1926 - 1995) |url=http://nla.gov.au/nla.news-article130552513 |access-date=2020-05-11}}</ref><ref>{{Cite web|title=Walter buy: Leighton no Wally|url=https://www.smh.com.au/business/walter-buy-leighton-no-wally-20021218-gdfzfx.html|date=2002-12-18|website=The Sydney Morning Herald|language=en|access-date=2020-05-11}}</ref> was one of Australia's oldest and fifth largest construction company<ref name=":0" /> prior to its 2005 collapse. The company was founded on 21 April 1920 by Allen Lewis.<ref>ASIC Connect; ACN 000 008 935</ref><ref>{{Citation |last=Perkins |first=John |title=Allen Charles Lewis (1891–1970) |url=https://adb.anu.edu.au/biography/lewis-allen-charles-10822 |work=Australian Dictionary of Biography |publisher=National Centre of Biography, Australian National University |access-date=2020-05-11}}</ref> It remained independent until 1999, when the company was bought by the German {{interlanguage link|Walter Bau|de}} and rebranded as Walter Construction Group.<ref>{{Cite journal|date=1999-04-09|title=CONCRETE CHANGES.(FEATURES)|url=https://trove.nla.gov.au/version/82474852|journal=The Australian (National, Australia)|language=en|pages=035}}</ref>
==Collapse== Before its collapse, Walter Construction had two divisions: "Construction and Civil", and "Mining".<ref>{{Cite web|title=Walter Construction in administration|url=https://www.smh.com.au/business/walter-construction-in-administration-20050202-gdkm5d.html|date=2005-02-02|website=The Sydney Morning Herald|language=en|access-date=2020-05-11}}</ref> While the mining division was profitable and expanding, the construction division had been losing money since 2000. By the company's collapse, 18 of its 21 contracts were cash flow negative.<ref name=":0">{{Cite web|title=Construction|url=https://www.kordamentha.com/getmedia/7d5d8bb9-4581-45d2-83bf-9b4e414c90d7/Construction-Part-2-Engineering-construction.pdf.aspx?ext=.pdf|date=2012-08-01|website=KordaMentha}}</ref> During this period the company heavily relied on its parent company for financial support,<ref>{{Cite web|title=Walter directors 'knew parent was bankrupt'|url=https://www.theage.com.au/business/walter-directors-knew-parent-was-bankrupt-20050322-gdzu0v.html|date=2005-03-22|website=The Age|language=en|access-date=2020-05-11}}</ref> however Walter Bau was also experiencing financial difficulties and both companies were placed into liquidation on 3 February 2005.<ref>{{Cite book|last=Frericks|first=Sebastian|url=https://books.google.com/books?id=qNSBDwAAQBAJ&dq=%22Walter+Bau%22+2005&pg=PA104|title=Downfall of Large German Listed Companies: A Two-Dimensional Analysis of Failure Factors|date=2018-12-28|publisher=Springer|isbn=978-3-658-24999-1|page=49|language=en}}</ref><ref>{{Cite web|title=Workers lose millions as builder collapses|url=https://www.smh.com.au/national/workers-lose-millions-as-builder-collapses-20050203-gdkm9l.html|date=2005-02-03|website=The Sydney Morning Herald|language=en|access-date=2020-05-11}}</ref> KordaMentha was appointed the administrator,<ref>{{Cite web|title=Walter Construction Group Limited (In Liquidation) 008 390 074 {{!}} Creditors' Voluntary Liquidation|url=https://insolvencynotices.asic.gov.au/browsesearch-notices/notice-details/Walter-Construction-Group-Limited-In-Liquidation-008390074/3dd92734-4cf0-4926-8ef0-999c1409fb75|last=ASIC|date=2018-03-13|website=ASIC|access-date=2020-05-11}}</ref> and proceeded to liquidate the remaining assets of the company by 2018.<ref>{{Cite web|title=Last asset sale for Walter Group|url=https://www.afr.com/property/last-asset-sale-for-walter-group-20050416-jl4k4|date=2005-04-16|website=Australian Financial Review|language=en|access-date=2020-05-11}}</ref><ref>ASIC Connect; ACN 008390074</ref><ref>{{Cite web|title=Workers lose millions as builder collapses|url=https://www.smh.com.au/national/workers-lose-millions-as-builder-collapses-20050203-gdkm9l.html|date=2005-02-03|website=The Sydney Morning Herald|language=en|access-date=2020-05-11}}</ref> During their investigation, it was also revealed that Walter Construction had traded while insolvent.<ref>{{Cite web|title=Walter directors 'knew' it was insolvent|url=https://www.smh.com.au/business/walter-directors-knew-it-was-insolvent-20050322-gdkz5e.html|date=2005-03-22|website=The Sydney Morning Herald|language=en|access-date=2020-05-11}}</ref><ref>{{Cite web|title=AM - Walter Construction Group collapses|url=https://www.abc.net.au/am/content/2005/s1295100.htm|website=www.abc.net.au|access-date=2020-05-11}}</ref>
Prior to the collapse, John Holland Group had a bid to acquire Walter Construction, however the deal fell through in 2002.<ref>{{Cite web|title=Walter buy: Leighton no Wally|url=https://www.smh.com.au/business/walter-buy-leighton-no-wally-20021218-gdfzfx.html|date=2002-12-18|website=The Sydney Morning Herald|language=en|access-date=2020-05-11}}</ref>
==Notable projects== * John Gorton Building<ref>{{Cite news|date=1950-01-18|title=BUILDING ESTIMATED TO COST £2 MILLION|pages=1|work=Canberra Times (ACT : 1926 - 1995)|url=http://nla.gov.au/nla.news-article2762356|access-date=2020-05-10}}</ref> * Black Mountain Tower<ref>{{Cite news|date=1979-12-28|title=Tower Canberra's most prominent landmark|pages=7|work=Canberra Times (ACT : 1926 - 1995)|url=http://nla.gov.au/nla.news-article110975787|access-date=2020-05-11}}</ref><ref>{{Cite web|title=Telstra Tower|url=https://www.telstratower.com.au/history.aspx|website=www.telstratower.com.au|access-date=2020-05-11}}</ref> * Parliament House, Canberra<ref>{{Cite web|title=25 YEARS ON: CALLING ON PARLIAMENT HOUSE CONSTRUCTORS {{!}} Indesignlive|url=https://www.indesignlive.com/uncategorized/25-years-on-calling-on-parliament-house-constructors|date=2013-05-06|website=Indesignlive {{!}} Daily Connection to Australian Architecture and Design|language=en|access-date=2020-05-11}}</ref><ref>{{Cite magazine|date=1988-05-09|title=Who was chosen to build Australia's largest Building?|url=https://www.aph.gov.au/-/media/05_About_Parliament/54_Parliamentary_Depts/544_Parliamentary_Library/history/TheHouseMagazine_NewParlHouse1.pdf?la=en&hash=5EE997563D42507850541C19557946066AF2D18A|magazine=The House Magazine|volume=7|issue=12|access-date=2020-05-11}}</ref> * Grosvenor Place (Sydney)<ref>[http://www.sydneyarchitecture.com/cbd/cbd4-041.htm Grosvenor Place] Sydney Architecture</ref>
==See also== * LR&M Constructions * Hardcastle & Richards
==References== {{Reflist}}
==External links== *[https://www.westcoastelevators.com.au/commercial-lifts/ Building Lift]
Category:Companies based in Sydney Category:Australian companies established in 1920 Category:Australian companies disestablished in 2005 Category:Construction and civil engineering companies of Australia Category:Construction and civil engineering companies established in 1920