Chapter Two

They also agreed on the capital structure of the new company. Each of them would contribute £200, making a grand total of £600, and Moratelli would throw in his utility truck. The ownership connection between Transfield and Sabemo did not go further. Sabemo, undercapitalised and untested, as had been the case for Transfield two years earlier, was left to its own devices.

The new company scrambled for every little job it could get. There was no credit line. However, from the outset Moratelli placed a lot of emphasis on research. He introduced in building construction the revolutionary concept of on-site post-tension concrete construction and a wide use of plastics. This method reduced the weight of the structure, construction time and cost.


Page Media:

Transfield House under construction. 1969. Sabemo towers in North Sydney. Second bottom left is Transfield House, top right Sabemo Centre.