Chapter Seven

The families remained tight-lipped for almost two years about negotiations on the carve-up. Eventually, on 22 April 1996, Transfield issued a media statement announcing the break-up of its defence, construction and technology empire into two organisations, with the Belgiorno-Nettis family retaining the name Transfield.

Under the terms of the split, the Salteris took the Williamstown Shipyard and defence contracts, renaming their new enterprise Tenix, while the Belgiorno-Nettis family retained property development, engineering, infrastructure, maintenance and construction.


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1989. The signing of the ANZAC Frigates contract, under the watchful eye of Transfield’s founder. 1994. The launching of HMAS Anzac, the first of the ANZAC Class frigates. Williamstown, Victoria. August 1992. The Sydney Harbour Tunnel on Open Day.