South Island-based road maker Fulton Hogan is expanding its Australian operations, buying half of Melbourne-based Pioneer Road Services.
The purchase would boost turnover from Fulton Hogan's Australian businesses by more than 25% and make its operations on both sides of the Tasman a similar size.
Chief executive Dave Faulkner says the move would raise turnover in Australia to nearly $1 billion, and increase the number of towns and cities covered by the company.
In New Zealand, Fulton Hogan is 37% owned by Shell New Zealand which is going through an operational review. Pioneer is part-owned by Shell.
