INTERESTING 2010 TENIX MEDIA RELEASE.....WHO OWNS TENIX?

Reported by AAP Wednesday, October 13, 2010
Media release distributed by AAP Medianet.

Carlo Salteri AC

23/10/1920 to 12/10/2010

It is with great sadness that we announce the death of Tenix Founder Mr Carlo Salteri.

Mr Salteri passed away yesterday evening after a short illness at the Mater Hospital in Sydney. He was 89.

Carlo Salteri was the Co-Founder of Transfield and Founder of Tenix, two of Australia's largest private companies.

Carlo migrated to Australia in 1951 with his wife Renata and young family. He was a mechanical engineer with the Italian company Societ Anonima Elettrificazione SpA (SAE).

In August 1951 he arrived in Australia together with his future business partner Franco Belgiorno-Nettis, 25 men and a priest to build the electricity transmission line from Tallawarra (near Port Kembla) to Homebush Bay.

In 1956 following the completion of a 5 years contract with SAE, Carlo and Franco had the option of returning to Italy or to "go it alone" in Australia. They chose the latter and formed a new company "Transfield". It was the beginning of a great partnership between the two men which lasted 40 years, growing Transfield into one of Australia's largest companies.

Notable achievements of Transfield, under the leadership of Carlo Salteri and Franco Belgiorno-Nettis, included the construction of the Gateway Bridge in Brisbane and the Sydney Harbour Tunnel, as well as numerous major infrastructure projects across the country. A highlight of their unique partnership was the visit by Pope John Paul II on 26 November 1986 to Transfield's Seven Hills factory.

In 1988 Transfield purchased the Williamstown Dockyard in Melbourne and in 1989 was awarded a $6 billion contract to build ten ANZAC Frigates for the Australian and New Zealand Navies.

In 1989 Carlo Salteri and Franco Belgiorno-Nettis stepped down as Joint Managing Directors in favour of their eldest sons, Paul Salteri and Marco Belgiorno-Zegna. Seven years later Transfield was demerged. Tenix was formed in August 1997.

As part of the separation, the Salteri family took control of the defence interests of Transfield, and Carlo with his two sons Paul and Robert set out to build Tenix into Australia's largest defence contractor. Tenix then successful completed the JORN (Jindalee Over the Horizon) project, and the ANZAC ship project. Tenix prospered and further expanded across the defence sector into engineering infrastructure and service businesses.

Tenix sold its defence business to BAE in June 2008. Tenix has since turned its focus on building its infrastructure and parking and traffic businesses across Australia, New Zealand, the Pacific and the USA.

Tenix is derived from the Latin word for "Tenacity". Tenacity is one of the values that guided Carlo throughout his life. As a small boy in Milan, his grandfather gave him a 5 cent coin together with these words of encouragement "to make one million one has to start from a 5 cent coin". Carlo carried this coin in his wallet until very recently when the coin was mounted for display in the Boardroom.

Guided by the words of his grandfather and his own tenacity, Carlo worked diligently to establish a very successful business.

Success also gave Carlo the opportunity to give back to society. He established the Tenix Foundation to provide assistance for education, research and underprivileged children. When establishing the Foundation he commented "When I came to Australia in 1951, I came to a young country with opportunity, optimism, vitality and enthusiasm for the future. Over the years our success has enabled us to assist those in our community who have not been as fortunate".

Carlo was a key supporter of education for Indigenous students and, with Her Excellency Professor Marie Bashir and Sir William Deane, was a Patron of the Australian Indigenous Education Foundation.

Carlo continued to be an active Director of the Tenix Group of companies until his death.

Carlo was awarded the Companion of the Order of Australia in January 2002 "for service as a leader in industrial and technological development in Australia, to the engineering, construction and manufacturing industries, and to the community through a range of artistic, cultural and health-related organisations."

He was also recognized by the Italian Government with the award of Commendatore Grande Ufficiale.

Carlo was keen skier spending many days on the slopes at Perisher. He was also a keen yachtsman, enjoying many hours with his family on his Swanson 39 classic, "Frigga".

Paul Salteri, Chairman of Tenix, on behalf of the Salteri family said this morning:

"Dad had great faith and was at peace in the knowledge that he had achieved much in his nearly 90 years. He was a loving husband to Renata, and then Roslyn, father to Paul, Mary, Adriana and Robert and their partners, "nonno" to his 11 grandchildren and their partners and great-nonno to Matthew. We will miss his love, his guidance and wisdom and above all his enthusiasm for life."

He specifically requested a private family funeral, but a memorial service will be held in due course. An announcement will be made when arrangements are finalized.

A life well lived for which we are eternally grateful.

For further information contact:

Liam Bathgate

Tel: 0432 072 523

SOURCE: Tenix

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