11/11/2021 - 15:30

Contractor in administration, 125 employees sacked

11/11/2021 - 15:30

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AvidSys Group's engineering subsidiary, which comprises three businesses formerly part of RCR Tomlinson, has laid off more than 100 employees after falling into administration.

Contractor in administration, 125 employees sacked
Avid Resources is the accumulation of three assets formerly owned by collapsed business RCR Tomlinson. Photo: AR

AvidSys Group's engineering and construction subsidiary, which comprises three businesses formerly part of RCR Tomlinson, has laid off more than 100 employees after falling into administration.

Administrators from KPMG were appointed to Avid Resources on Wednesday, less than three years after the business was incorporated by AvidSys.

It is understood 125 employees have been officially laid off.

Avid Resources, which was renamed AVRWA Pty Ltd late last month, is the accumulation of the engineering, power and water assets formerly owned by collapsed business RCR Tomlinson, which were acquired by AvidSys in 2019.

AvidSys is headquartered in Perth and owned by its founding director and chairman, Ansh Gautum, also the chairman of Avid Resources.

News of the administration comes a month after AvidSys acquired a stake in one of Downer’s mining services assets through a joint venture with an Indonesian mining services provider, in which AvidSys has a 20 per cent interest.

That deal was worth $150 million.

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