Posts Tagged ‘acquisition’

ASX Company News: Clough Secures $140 million LNG Project Contract

Wednesday, February 8th, 2012

Engineering and construction company Clough Limited (CLO) announced that the BAM Clough Joint Venture has received a Letter of Intent (LOI) from JGC Corporation, KBR and Chiyoda Corporation joint venture (JKC JV) for a contract valued at $A140 million. The scope of work involves the design and construction of the Ichthys LNG Project Module Offloading Facility (MOF) near Darwin, Northern Territory. The MOF will be constructed as part of the INPEX-operated Ichthys LNG facility being developed in Darwin. It is a key facility that will be used to offload modules being supplied under other subcontracts to assemble the LNG liquefaction plant. Under this LOI, expenditure is limited for BAM Clough to the commencement of engineering, procurement and planning work for the project. Construction activities for the MOF are scheduled to commence in early 2013 with MOF project completion anticipated in early 2014. At peak the MOF project will employ a workforce of 130.

Clough’s Chief Executive Officer Kevin Gallagher said “This award represents further growth in our near shore marine construction business, delivered through our long- term joint venture BAM Clough. We are delighted to further strengthen our relationship with valued partner BAM, and are excited at the prospect of delivering excellent project outcomes for the JKC JV and ultimate client INPEX.”

Established in 1919, Clough delivers an integrated Engineering, Procurement and Construction service to oil and gas and mineral resources projects primarily in Australia and South East Asia. The Group’s services range from concept development through design, construction, installation, commissioning, operations and maintenance. BAM International brings the construction and construction-related services of the Dutch based Royal BAM Group to Africa, Australia, the Middle East and Gulf States, Asia Pacific and the Americas. These services include general building, marine works, infrastructural and industrial projects.

www.clough.com.au

http://www.traderdealer.com.au/fundamentals/clo

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ASX Company News: Mining Projects Group Acquire Two New Exploration Permits

Wednesday, February 8th, 2012

Mining Projects Group Limited (MPJ) announces it has executed a binding Heads of Agreement to acquire two prospective Exploration Permits for Coal applications (EPCAs) north and east of Kingaroy, Queensland. MPJ has reviewed a number of coal projects over the preceding two quarters. The Company will continue to seek further opportunities to develop a prospective portfolio of coal projects. The HoA entered into by MPJ is to acquire 100% of Delcarmen Energy Limited for $1 million with consideration for the acquisition to be completed on a 50:50 equity and cash basis. Delcarmen has filed two EPCA’s north and east of Kingaroy (applications for EPC 2527 & EPC 2528), approximately 170kms west of Brisbane.

The $1 million consideration for the acquisition will be paid on the following basis – non refundable deposit of $20,000 paid on execution of the HoA; $80,000 to be paid on completion of the acquisition of Delcarmen; 12,500,000 performance shares will be issued on completion of the acquisition of Delcarmen, each of the performance shares will convert to an ordinary fully paid share, at 2 cents per share, in the Company upon the later of completion of the acquisition of Delcarmen or the grant of EPCA 2527; $200,000 to be paid on the later of completion of the acquisition of Delcarmen or the grant of EPCA 2527; 12,500,000 performance shares will be issued on completion of the acquisition of Delcarmen, each of the performance shares will convert to an ordinary fully paid share, at 2 cents per share, in the Company upon the later of completion of the acquisition of Delcarmen or the grant of EPCA 2528; $200,000 to be paid on the later of completion of the acquisition of Delcarmen or the grant of EPCA 2528; milestone payment of $250,000.

www.miningprojectsgroup.com.au

http://www.traderdealer.com.au/fundamentals/mpj

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ASX Company News: Humanis Group Acquires DLA Consulting Group

Tuesday, February 7th, 2012

International recruitment and labour hire specialists, Humanis Group Limited (HUM) is pleased to announce that it has acquired the DLA Consulting Group, an award-winning specialist insurance and financial services recruitment company, based in Melbourne. DLA Consulting provides recruitment solutions to clients and candidates across Australasia, Asia Pacific and the Middle East and is expected to complement the existing services provided by the Humanis Group.

DLA Consulting was ranked as a Top 10 place for executive search by Business Bulletin Magazine and has received ‘Highly Commended’ status from the Australian Achievers Award for over 10 years. Ms Denise Lock, Managing Director of DLA Consulting, received the Inaugural Service Award from the Australian & New Zealand Institute of Insurance & Finance for her significant contribution to the industry. “DLA Consulting is a strategic addition to the Humanis brand portfolio and will enable Humanis to grow its insurance and financial services portfolio. There are significant synergies between DLA Consulting and the Humanis Group and we will work together to provide DLA Consulting greater leverage nationally and internationally,” said Mr Rabieh Krayem, Humanis Group Managing Director.

Humanis Group Limited (HUM) is a specialist labour hire, professional placement and international recruitment firm with annual revenues expected to reach $450 million in FY12. The merged Group has an operational capacity spanning Australia, New Zealand and the Philippines, servicing a high-quality client base of principally ASX Top 200 companies. The Group has core capabilities encompassing temporary, permanent and international recruitment and significant exposure to key growth sectors in the market with a focus on the skills-and-labour constrained industries, including energy (coal and oil & gas), resources, transport, logistics and financial services.

Humanis Group is in a position to expand their existing offshore recruitment business and consolidate its presence in industry sectors with chronic skills shortages. Humanis Group will continue to develop its national footprint and broaden its geographical reach throughout Australia.

www.humanis.com.au

http://www.traderdealer.com.au/Fundamentals/hum

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ASX Company News: Cardno Acquires ATC Associates

Tuesday, February 7th, 2012

International infrastructure services consultancy, Cardno Limited (CDD) announced that it has agreed to acquire ATC Associates Inc., a Louisiana, U.S.A. based environmental services firm. ATC Associates is a 1600 person consulting firm with specialist expertise in environmental consulting and services, building sciences, geotechnical engineering and construction materials testing (CMT). The acquisition is expected to contribute approximately US$130 million in revenue and US$16 million in EBITDA over the next 12 months.

Cardno will pay US$106 million for the purchase of ATC which includes payment of US$101 million on settlement and a US$5 million holdback to be paid in 18 month’s. The transaction is expected to be effective 1 March 2012. The acquisition of ATC will be funded through a A$45 million Placement combined with a 1 for 9 Renounceable Rights Issue to existing shareholders which will raise an additional A$66 million approximately. The transaction is subject to customary closing conditions including approval of the Committee of Foreign Investment in the United States, due to a small amount of security level work for the U.S.A.

Cardno Managing Director, Andrew Buckley commented that in line with Cardno’s proven strategy, ATC’s key management will remain active in the company, which will be known as Cardno ATC. Mr Buckley said the addition of Cardno ATC will further strengthen Cardno’s exposure to the U.S.A. environmental and natural resources management market and is highly complementary to Cardno’s existing businesses in the U.S.A. He further noted that this cements Cardno’s position as one of the largest environmental consulting firms in the U.S.A. Mr Buckley added that ATC will provide Cardno with broader access to key U.S.A. clients such as oil, gas and energy companies and major U.S.A. contractors and retail groups. Integral to ATC’s core strength and reputation has been the company’s ability to successfully deliver a broad range of environmental services to major clients through multi-year master service agreements.

Cardno is an integrated professional services provider, delivering the specialist expertise necessary to create and improve the physical and social infrastructure that underpins communities around the world. Cardno’s team includes leading professionals who plan, design, manage and deliver sustainable projects or community programs.

www.cardno.com

http://www.traderdealer.com.au/Fundamentals/cdd

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ASX Company News: Pro-Pac Packaging Acquires Hills Industrial Products

Tuesday, February 7th, 2012

ASX listed national packaging group, Pro-Pac Packaging Ltd (PPG) announced the purchase of the business and assets of Hills Industrial Products. Hills is a Sydney based distributor of industrial packaging, safety and warehouse products, providing a comprehensive range of products to diverse businesses and industries. Hills have developed a unique value proposition that differentiates it from most other distributors by selling direct via a catalogue and a newly launched online ordering system. Over the past 5 years Hills has developed significant intellectual property in the creation of comprehensive catalogues and mailing lists. The business has had consistent annual growth since inception with a current annualized turnover in excess of $7.5m and complements Pro-Pac’s existing product and customer profiles. The purchase consideration will be funded from Pro-Pac’s existing cash resources and debt facilities.

Commenting on the acquisition, Pro-Pac’s CEO, Brandon Penn, said “the purchase of Hills is a very exiting opportunity to take this successful NSW business model national through our existing national infrastructure. Hills have developed significant intellectual property and business methodologies that we will be able to leverage on and which will give us new sources of revenue streams. Hills will be run as a separate sales unit and brand but will utilise Pro-Pac’s existing back end and logistics infrastructure.”

Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers. PPG is headquartered in Sydney with operations in Adelaide, Brisbane, Melbourne and Perth.

www.ppgaust.com.au

http://www.traderdealer.com.au/Fundamentals/PPG

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ASX Company News: ElDore Mining Acquires African Gold Mine

Monday, February 6th, 2012

Gold explorer ElDore Mining Corporation Limited (EDM) is pleased to announce that it has signed an agreement for a major gold mine acquisition that will see it establish a key strategic landholding within a major gold producing region and ultimately join the ranks of the country’s gold producers.

EDM has agreed to acquire the Lonely Gold Mine in Zimbabwe for an equivalent total consideration of US$4.4 million. The Company has executed a Heads of Agreement with the vendors to acquire a 100% interest in the Lonely Mine, subject to due diligence, regulatory and shareholder approval. The Lonely Mine, located 80km north of Bulawayo, has historical underground production of up to >1.1 million ounces of gold (Bartholomew, 1990). The Lonely Mine was the largest single gold producer in the region until its closure in the mid-1990s. The potential for recommencement of operations following completion of due diligence will be part of the Company’s expanded scope to determine the size and scale of operations and exploration prospectivity. The mine is located within the Bubi greenstone belt, which is a major gold producing region in Zimbabwe.

The total consideration of US$4.4million includes the tenements and all plant and equipment on site, which the Company believes will expedite re-commissioning of operations upon settlement. Settlement is due to occur following shareholder approval. The transaction is payable by way of EDM shares to the value of US$2 million and US$2.4million cash. The shares will be payable upon the following terms – US$1 million of EDM shares at settlement and US$1 million of EDM shares upon the first production pour of 20kg (643 troy ounces) of gold poured. The cash component is payable in two installments upon the following terms – US$500,000 at settlement and the US$1.9million balance will be payable from production.

www.eldore.com

http://www.traderdealer.com.au/fundamentals/edm

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ASX Company News: Mariner Goes Shopping

Friday, February 3rd, 2012

Mariner (MCX) has explored a number of investment opportunities over the last 3 months, and is now pleased to announce to the market a number of acquisitions: 1,078,167 shares in Capilano Honey Limited, representing 12.65% of the issued equity of that company; 6,630,958 shares in Farm Pride Foods Limited (ACN 080 590 030), representing 12.02% of the issued equity of that company; 1,700,000 shares in Tasmanian Pure Foods Limited (ACN 124 272 108), representing 19.65% of the issued equity of that company; 1,441,039 shares in Peanut Company of Australia Limited (ACN 057 251 091), representing 19.83% of the issued equity of that company.

These four investment stakes will be acquired from a listed Australian investment company for a total consideration of $3,160,000. The acquisitions are in line with Mariner’s strategy, outlined by Mariner’s new management team in early 2011, to acquire strategic stakes in the small cap sector.

www.marinercorporation.com.au

http://www.traderdealer.com.au/Fundamentals/mcx

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ASX Company News:Greencross Acquires Maitland and Rutherford Vets

Thursday, February 2nd, 2012

Australia’s largest veterinary group Greencross Limited (GXL) is pleased to announce that it has entered into agreements to acquire the Maitland Veterinary Hospital and the Rutherford Veterinary Clinic. Total cash consideration, including deferred payments, to be paid for this acquisition equals $2,823,069. The acquisition is expected to deliver annualised revenue and EBIT of $3.312m and $0.650m respectively. The acquisition is expected to be earnings per share accretive in the 2012 fiscal year. Both clinics are situated in Maitland, New South Wales and are well established businesses that have been in operation for over 38 years. Both vending veterinarians have entered into employment agreements with Greencross ranging from 1 to 3 years in duration. Greencross in pleased to also announce that it has entered into an agreement to purchase a further 16.31% of the shares in the Animal Emergency Centre Pty Ltd (‘AEC’). This will take the Company’s total ownership in the AEC from 59.00% to 75.31%. The total consideration for the AEC shares equals $856,165.  The consideration for the AEC shares is to be settled by the issue of 668,879 Greencross shares to the vendors.

Greencross was established in 2003 and has grown to become Australia’s leading veterinary services company through the acquisition and integration of 73 practices around Australia. Greencross’s strategy is to continue to consolidate the fragmented veterinary services industry in Australia and is focused on delivering exceptional veterinary medicine and levels of care to its patients. The company’s vision is to be the practice of choice for employees, clients, patients and shareholders.

www.greencrossvet.com.au

http://www.traderdealer.com.au/fundamentals/gxl

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ASX Company News: Fletcher Building Acquires German Laminate Company

Wednesday, February 1st, 2012

Fletcher Building Limited (FBU) announces that its Formica business has reached agreement to acquire all of the shares in Homapal Plattenwerk, a manufacturer and distributor of metal and specialty laminates, for €30 million (NZ$48 million). Formica has been a 50-percent shareholder – and the largest customer – of the Germany-based company since 1983.

“Homapal is a successful company with an outstanding reputation as a niche leader in the high-end metal and specialty laminate business,” said Formica chief executive Mark Adamson. “We’ve been a part of the Homapal business for decades. We understand its capabilities and market differentiating qualities, and we’re eager to welcome Homapal to Formica while expanding our Laminates & Panels division.”

Homapal is a global leading specialist in the design, manufacture and distribution of high-quality metal and specialty laminates. Its product range is complementary to Formica’s, and will consolidate Formica’s position as a global brand leader in the surfacing industry. Full ownership of Homapal will increase Formica’s presence in Germany, one of the world’s largest laminate markets and where Homapal already has a strong market position. It will also allow Homapal to achieve greater access to growth opportunities for metallic laminates in Asia, due to Formica’s strong presence through its distribution network and customer base.

www.fletcherbuilding.com

http://www.traderdealer.com.au/Fundamentals/FBU

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ASX Company News: Automotive Holdings Group Acquires Jeff Wignall Group

Wednesday, February 1st, 2012

Automotive Holdings Group Limited (AHE) announced it had acquired the business and assets of the Jeff Wignall Group (JWG) in Victoria, excluding the business of Southern Mitsubishi. The dealerships to be acquired from JWG comprise 9 dealership points – Ford (4), Mitsubishi (1), Kia (4) – at 5 locations throughout the Mornington Peninsula in Victoria which turnover approximately $100million p.a. The purchase price is approximately $14million inclusive of goodwill and trading assets but excluding vehicle inventories, which will be funded by AHG’s floor plan facilities. The purchase price is being funded from the proceeds of the capital raising completed in 2011.

AHG Managing Director Bronte Howson said the purchase of JWG’s dealerships was a significant addition to AHG’s automotive operations in Victoria. “AHG has an underweight presence in Victoria and we plan to continue to build our business in Melbourne where we can add value. We acquired Ferntree Gully Toyota in 2010 and the purchase of JWG gives us further scale with some leading brands in Ford, Mitsubishi and Kia. This builds on and strengthens our existing relationships with these key manufacturers” said Mr Howson. The principal of JWG, Andrew Cross, said the sale to AHG would provide a platform to continue to grow JWG’s dealership franchises as part of AHG. “The sale to Australia’s largest automotive group is a great opportunity for JWG’s dealerships.

Automotive Holdings Group Limited (AHE) is a diversified automotive retailing and logistics group with operations in every Australian mainland state and in New Zealand. The Company is Australia’s largest automotive retailer, with its major operations in Western Australia, New South Wales and Queensland. AHG also operates the Prestige Hino truck dealership in Dandenong, Victoria – one of the largest in the country, and a leading Toyota dealership in Melbourne. AHG operates logistics businesses throughout Australia through subsidiaries Rand Transport and Harris Refrigerated Transport (transport and cold storage), AMCAP and Coventry’s WA (motor parts and industrial supplies distribution), VSE, providing vehicle storage and engineering, Genuine Truck Bodies, which provides body building services to the truck industry, and KTM Sportmotorcycles (motorcycle importation and distribution in Australia and New Zealand).

www.ahg.com.au

http://www.traderdealer.com.au/fundamentals/ahe

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