Christiani & Nielsen
From Wikipedia, the free encyclopedia
Christiani & Nielsen is a construction contractor with major operations in Thailand and Southeast Asia. Originally a Danish company, it is today a listed company majority owned by the Crown Property Bureau of King Bhumibol of Thailand.
[edit] Founding and early years
Christiani & Nielsen was established by Rudolf Christiani, a Danish civil engineer, and Aage Nielsen, a Captain in the Royal Danish Navy, in Copenhagen in 1904 to build bridges, marine works, and other reinforced concrete structures.[1] It soon established a branch in Hamburg, and after World War I, extended its operations to the United Kingdom, South America, Australia and Africa.
[edit] Thailand operations
Christiani & Nielsen (Siam) Ltd. was established on 28 February 1930.[2] Over the years, it has been responsible for many projects, including
- The Democracy Monument
- Klong Toey Port
- The Krungthep, Krungthon and Nonathburi bridges spanning Bangkok's Chao Phraya River
- Rajdamnern Boxing Stadium
- The Sukhothai Hotel
- The 13th Asian Games Sports Stadium
- All Season Place office complex
The Thai company was listed on the Stock Exchange of Thailand in 1991. In December 1992 it completed a reverse takeover of its publicly listed Danish parent company – the first such transaction in Thai business history. The Thai management succeeded in taking over the mother company without paying the full price by claiming bankruptcy in the process. The result of this is that the company today uses the lucrative brand of Christiani & Nielsen without having paid the families of the founders.
It later expanded into Malaysia, Vietnam, and China, along with investment in engineering and property related businesses.
After the Asian Economic Crisis of 1997, the company restructured its businesses and disposed of many subsidiaries and investments outside of the core construction business in Thailand.[citation needed]
