THE James Packer controlled Ellerston Capital has bought a 50% stake in commercial and mining construction company Arccon (WA).
Ellerston Capital is a wholly owned subsidiary of the Consolidated Press Holdings.
“We are delighted to have the opportunity to support the future growth plans of a successful business operating in two important, high growth sectors of the WA economy,” Packer said.
Arccon commenced its’ commercial design and construction business in late 2003 and has experienced significant growth in a strong WA market.
The company has over $300 million of commercial projects under contract. Arccon currently employs over 70 staff managing a range of projects including shopping centres, bulky goods showrooms, mixed commercial / residential and office towers.
Arccon’s founding managing director Robert Wilde said having the financial capital support from Packer will facilitate the company’s ability to take on major commercial and resource construction projects in the immediate future and maximise the many opportunities in WA.
Australian Property Journal
