CIC Australia amalgamates with Peet Limited
CIC Australia's growth trajectory is continuing with the announcement of a friendly merger with residential property developer, Peet Limited.
CIC Australia Chief Executive Officer Col Alexander says the company has been on the lookout for a suitable residential land development partner for some years, and that Peet's track record in the industry-more than 118 years-as well as its ethical approach to doing business, was what made the merger appealing.
"The two companies share the same business and company culture," he says. "What also attracted us was that Peet operates in locations that CIC doesn't, which means that together, the merged entity will boast major projects in every state and territory in Australia except Tasmania."