Thursday 3 April 2008

Wideform expansion puts wind in its sails

Illawarra Mercury
Friday 28/3/2008 Page: 7

THE Wideform Group of Companies is expanding into new territory in a move it says will create hundreds of jobs in Wollongong. Wideform has already come a long way from its humble beginnings as a small formwork company with three employees in 1974 and during the past decade the Unanderra-based business has expanded into building construction, development, seniors living, interior design and decorating.

Now it has announced three new joint ventures with a major European partner which will see Wideform move into renewable energy, the manufacture of aluminium and property development in East Timor. Wideform's new association with the Portugal-based Martifer Group could generate up to 300 jobs in Wollongong and inject many millions of dollars into the Illawarra economy.

Managing director Fred Ferreira said Wideform's expansion would involve the construction of an eight-storey national headquarters in Young St, Wollongong, the acquisition of Sassall Aluminium in Berkeley Rd, Unanderra and the creation of a new wind tower factory covering 12,000 sqm nearby. The renewable energy joint venture will result in a company called Eviva Energy committing billions of dollars to wind farm projects throughout Australia during the next decade.

A $2.5 billion project is being considered in Victoria with a flow-on of 100 new jobs in Wollongong. "Construction will be undertaken by Wideform," Mr Ferreira said. "We will be establishing a new factory for the manufacturing of towers." The turbine technology will be delivered by Martifer but the rest of the work will be done at Unanderra.

Another joint venture involves the acquisition of Sassall Aluminium, which makes aluminium windows and curtain walls. Sassall Aluminium is located across the road from the Wideform Group's existing head office. Mr Ferreira said the good news for the Illawarra was that the curtain wall manufacturing that was now taking place in Thailand, would be moved to Wollongong.

"We will be installing new technology (at the existing factory) to meet the demand of the market." Mr Ferreira said Wideform products would also be marketed more extensively in other states. The company was also exporting its skills and expertise overseas by investigating new initiatives in East Timor. Mr Ferreira's wife Estela is Australia's Goodwill Ambassador to East Timor and Wideform's goal is to foster economic and social development with construction and infrastructure development.

Through another joint venture with the Martifer Group, a company called Wideland has been created to develop offices, apartments, private condominiums, hotels and industrial business parks in East Timor. Horizon Living was also preparing to enter into a joint venture with the Martifer Group to build luxury seniors living communities in Portugal, Mr Ferreira said. A development application would soon be lodged for a new head office in Young St. Wideform will occupy five levels of the eight storey building.

1 comments:

Unknown said...

Interesting… I might try some of this on my blog, too. It’s quite interesting how you sometimes stop being innovative and just go for an accepted solution without actually trying to improve it… you make a couple of good points.
Venture Capital business plan