Codan Limited (ASX:CDA) has announced that the company will centralise its Adelaide operations to the Technology Park Adelaide precinct at Mawson Lakes bring over 250 staff.
Codan provides robust and leading-edge technology solutions that solve customersâ€™ communication, safety, security and productivity problems.Â Their customers include United Nations organisations, mining companies, security and military groups, government departments, major corporates as well as individual consumers and artisanal miners.
Technology Park is home to over 80 businesses including the likes of Saab Technologies, Tindo Solar, Optus, Topon, Lockheed Martin, Kongsberg Protech Systems, CSCÂ and ThyssenKrupp Marine Systems Australia.In making the descion to move to Mawson Lakes, Codan CEO, Donald McGurk, said â€œWe currently operate out of two locations in Adelaide which are owned by Codan. Consolidating these offices into one location and selling our surplus properties will result in increased efficiencies, cost synergies and a stronger balance sheetâ€.
â€œAfter 40 years at the same facility, either we had to redevelop the site at very substantial cost or relocate. The move follows an extensive review of all of our options. The redeveloped leased premises will provide great facilities for our staff and represents a long term commitment to the electronics industry in South Australia.â€
Codan has entered into a long term lease of a refurbished building owned by Renewal SA. It will be home to over 250 Codan and Minelab staff. The building will also house Codanâ€™s advanced manufacturing technology centre, which includesÂ over 150 specialised engineering and research staff and all corporate functions. It will also include extensive training and product demonstration facilities showcasing our leading-edge products to a global customer base.
Technology Park Adelaide
Technology Park is home to over 80 businesses including the likes of Saab Technologies, Tindo Solar, Optus, Topon, Lockheed Martin, Kongsberg Protech Systems, CSCÂ and ThyssenKrupp Marine Systems Australia. Commercial land within Technology Park Adelaide is available for immediate development. Benefits of locating within Technology Park Adelaide include the synergies that are created from the co-location of over 85 companies in defence, electronics and communication sectors. It is close to Mawson Lakes Town Centre, the University of South Australia and public transport.