Transfield Holdings's origins can be traced to 1956 when an Italian-born immigrant electrical engineer, Franco Belgiorno-Nettis, who was joined soon after by Carlo Salteri, a former colleague from Electric Power Transmission, an offshoot of Milan based Societa' Anonima Elettrificazione, which was constructing powerlines. The logo, designed by Belgiorno-Nettis, reflected its electricity industry origins; it was intended to represent a high-voltage transmission tower, with an accompanying red electrical spark.[1]
Transfield's first contract was for the fabrication and installation of a soaking pit and slab mill for Australian Iron & SteelatPort Kembla. In May 1957, sixteen hectares of land was purchased in the Western Sydney suburb of Seven Hills. In 1958 Transfield won its first major contract, to build of the powerline from MagilltoPort AugustainSouth Australia. Another early project, was a chairliftatThredbo, the longest in the world at the time.[2]
Together Belgiorno-Nettis and Saltieri built Transfield into one of Australia's most successful companies focused on major engineering projects such as bridges, tunnels, dams, hydroelectric and coal power stations, oil rigs, concert halls, sugar mills and power lines. Included in Transfield's list of achievements are the construction of the Gateway BridgeinBrisbane and the Sydney Harbour Tunnel. By the early 1980s, Transfield had in excess of 3,000 employees and an annual turnover of $350 million. Within five years it grew to be the biggest engineering firm in southeast Asia. When visiting Australia in 1986 Pope John Paul II toured the Transfield factory located at Seven Hills.[1][4]
In 1989, Belgiorno-Nettis and Salteri stood down as joint managing directors in favour of their eldest sons, Marco Belgiorno-Zegna and Paul Salteri.[6]
After a dispute between Belgiorno-Nettis and Salteri in 1995, the business was split, with the Belgiorno-Nettis family taking the construction and infrastructure side of the business, and the Salteris the defence and shipbuilding work under the name Tenix.[7]
In September 2014, Transfield Holdings sold its remaining shareholding in Transfield Services.[12] In 2015, Transfield Holdings transformed from a private equity business into an investment holding company, managed by the respective family offices of Guido and Luca Belgiorno-Nettis.[13]
During its first fifty years of operations Transfield's contribution to the arts has enriched and changed for good Australia's cultural landscape.
It has always been Franco Belgiorno-Nettis' cherished belief that inventiveness in new art is encouraging innovation in business and industry. He often stated that "artists and engineers have a lot in common: they both have an idea and make it concrete". Franco also, as he put it, "felt I could be an unofficial ambassador, use Transfield to build a link between Italian and Australian culture".[30]
In 1961 the company launched the Transfield Art Prize, at that time the richest in Australia, at £1,000. The Prize made a significant contribution in developing the wealth of talent among Australian artists, launched some of them to international notoriety, such as Fred Williams, the 1964 winner, and gave Transfield the opportunity to establish close links with the Australian political, financial and business world.
The Prize was discontinued in 1971, when Transfield realised that something else could be done in a more meaningful way.[31]
in 1963, the company, in association with the Australian Book Review, launched the Australian Book Review-Transfield Book Production Awards, aimed at raising the standard of literary culture and design of quality books in Australia. The £350 Awards were made until 1968.[33]
In June 1968, Transfield established, at a cost of $25,000, the first Australian foundry for sculpture at its Seven Hills factory, making these facilities available to artists at subsidised cost. Franco was particularly fond of his Sculpture Studio, where he cast his own works.[33]
It was the establishment of the Biennale of Sydney, in November 1973, that constitutes the most important contribution to Australian and international arts by Transfield. From 1973, when Prime Minister Gough Whitlam officially opened the first Biennale at the newly opened Sydney Opera House until today, Transfield has been the major sponsor of this event. During the span of over 30 years, the company probably invested over $6 million in-kind and cash to the fifteen Biennales. Amongst other contributions, it refurbished the Biennale venues at Pier 2/3 and Bond Store 4, Walsh Bay for three Biennales. It has also provided three chairmen, including Franco, Guido and Luca Belgiorno-Nettis.[34]
