In the history of Transfield, the period between 1989 and 1996 marks the stage when the company grew exponentially, changing from being essentially a construction business into an entity continuously expanding, diversifying its activities and entering into new, wide-ranging fields such as defence, shipbuilding, power technology, services, investment and partnering with government instrumentalities in major public sector projects.
This period also marked a generational change of the guard in Transfield's management. Franco Belgiorno-Nettis and Carlo Salteri, both in their seventies, retired to make way for their first-born sons, Marco Belgiorno-Zegna and Paul Salteri. The two original partners moved to Chairmen roles and remained involved in major policy decisions.
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