New challenges in pipeline for future
THE directors of one of Townsville’s key infrastructure companies have decided to wind up its operations as they look to retire and consider other opportunities life has to offer.
NQ Excavations Pty Ltd has specialised in the installation of pipelines and sewerage pump station construction in North Queensland for more than 20 years. It has been a major contractor on Townsville City Council’s Haughton Pipeline Duplication stage one development as well as projects at Fairfield Waters, Cleveland Bay sewerage treatment plant and Douglas water treatment plant.
It has also been involved in sewage treatment projects at centres including Richmond, Hughenden and Badu Island.
“Everyone comes to a point in their career where they need a change in direction. I’m looking forward to what the future holds,” director Phil Brennan said.
“All our obligations are being met. Staff entitlements are being met, we are very financially sound, we don’t owe any money and we own our plant and equipment.”
Co-director Eric Lollo, who founded the business in 1997, said they considered a sale of the business but with the support of financial services firm Carey Group they are opting to sell its assets and wind down the business.
Auctions of plant and equipment including earth movers, generators, pumps and vehicles will be conducted through Pickles over the coming weeks.
“I want to sit back and relax. I have a farm at Mount Fox,” Mr Lollo said. all
He said the company would meet its obligations on maintenance for recently completed contracts but with no new contracts in place they had decided to close the business down. About half of its 25 staff have been provided with redundancies, while those who remain will meet the business’s requirements over the next 18 months or so.
Mr Brennan and Mr Lollo said they were grateful to many people who had supported the business from staff to developers and to Townsville City Council.
“Credit needs to go to the council. They have managed the Haughton (water pipeline) project and broke it up into small packages to maximise local involvement,” Mr Brennan said.
NQ Excavations laid about 13km of the stage one 36km pipeline, including with the use of innovative techniques for construction under river beds, roads and rail lines.
Carey Group CEO Matt Thomson said they were proud to be involved with a company that had delivered local solutions by local people to support the region’s infrastructure.