Leighton to change name to CIMIC

GOVERNMENT agency IP Australia has given the nod to Leighton Holdings to change its name to CIMIC – Construction, Infrastructure, Mining and Concessions.

Staff Reporter

Leighton’s first bid to rebrand was rebuffed by the intellectual property body in March, but shareholders will now be able to vote on the switch at the company’s AGM on April 21.

It requires 75% ‘yes’ support to succeed.

"The board considers that the change of name is appropriate to support the transformation to the new operating model," Leighton said.

"The new name intends to provide a better representation of what we are and do and this will closely reflect our core activities.”

Should the ballot approve the new name, Leighton’s ASX code will become ‘CIM’.

Leighton has held its current name since inception in 1949.

These changes come in the wake of its majority shareholder Grupo ACS – a Madrid-based Spanish civil engineering and construction firm – selling off assets, including the John Holland business, to China Communications Construction Company for $A1 billion.

Leighton – or CIMIC – will have to go back to IP Australia at some point to register its Pacific Construction Contractors brand, as the agency requires more information before it makes its decision.