D&E Air Conditioning has made an exceptional recovery since the Hastie Group collapse securing the mechanical services contract for the billion dollar Victorian Comprehensive Cancer Centre (VCCC) development.
The contract is the biggest project in the company’s history and is a remarkable achievement considering that a little over a year ago D&E’s future was particularly bleak.
Describing the Hastie Group collapse last year as the “saddest day” in D&E’s 25 year history, D&E managing director Greg Andrews said the company has now settled creditor payments totalling over $8 million.
As the former general manager of D&E during the dark days when administrators moved in and took control of the company, Andrews successfully negotiated purchase of the company including the name D&E Air Conditioning.
“Within eight days we successfully negotiated for the purchase of D&E and reopened our doors for business saving over 300 jobs as well as maintaining staff retention, entitlements and continuity of years of service,” he said.
Administrators arrived on May 28, 2012 and doors re-opened on June 5. Andrews said D&E has a bright future and is also working on a number of retail developments.
