Lendlease Sails Services Unit Downstream
Another asset sale by Lendlease, as the company yesterday revealed it was offloading its services unit to Service Stream for $295 million in cash and $15 million in debt.
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Service Stream plays a vital role, working with our clients in keeping communities connected to essential network services across Australia.
Service Stream is an S&P/ASX 300 listed business providing integrated end-to-end asset life-cycle services to utility and telecommunications asset owners, operators and regulators across Australia.
We specialise in the design, construction, operation and maintenance of assets across these networks. We are technology-agnostic to the various types of networks, delivering a range of services across electricity, gas, water and renewable energy utilities, and fixed and wireless telecommunication networks.
Vision
To be Australia’s leading essential network service provider across the telecommunication and utility industries. We strive to achieve this through:
Service Delivery
The importance of consistent service delivery and execution
Client Relationships
Building and maintaining positive client relationships
Optimising our Delivery Model
Optimising and improving our operational delivery model
People
Investing in, and supporting our valued people
Future Growth
Securing growth opportunities
Service Stream continues to evolve and adapt to meet changing market and competitive demands.
Approach
Our approach to service delivery is market and customer focused. We have the proven capability and scalability to take on large, complex and high volume projects, yet remain at a size that is flexible and agile enough to continue to adapt to the needs of our clients. We also recognise our responsibilities to the environment and the communities in which we work.
Health and Safety
We have a strong culture with a focus on the safety of our people, our clients and the communities in which we work everyday. We are proud that our positive safety performance consistently ranks amongst the leading companies in Australia and is a clear point of difference.
Another asset sale by Lendlease, as the company yesterday revealed it was offloading its services unit to Service Stream for $295 million in cash and $15 million in debt.
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While Service Stream has indicated its second half would continue to be weak, material wins under NBN Co’s upgrade program could be an important swing factor.
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Service Stream has been hampered by the pandemic, having to add costs to ensure the safe delivery of field-based operations. On the positive side, the company is confident it will maintain its progressive dividend policy.
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