Meridian Energy has today announced changes for Damwatch – its specialist dam safety and engineering subsidiary.
Meridian has separated the dam safety team from the national and international engineering consulting team and has created a new Meridian subsidiary for the dam safety group called Dam Safety Intelligence Limited.
The national and international engineering consulting business will keep the Damwatch name and will be sold to a group including members of Damwatch Management and Rooney Group (a major developer of irrigation schemes).
Meridian Energy General Counsel, Jason Stein, says that the decision is the result of a strategic review and is part of Meridian’s commitment to continuously look at how Meridian’s business can be improved.
“Customers of Dam Safety Intelligence will continue to get the services they need to ensure the safety and longevity of New Zealand and Australian hydro assets,” says Jason.
Damwatch will continue to operate with Peter Amos as its Managing Director.
Meridian’s founding Chief Executive, Keith Turner, will chair the board of Damwatch.
“Meridian is looking forward to continuing its good relationship with Damwatch as a customer of its specialist dam engineering services,” says Jason.
“We believe Damwatch is set up to be a highly successful business servicing New Zealand and dam owners worldwide.”
The sale of Damwatch is expected to be completed in December 2016.