Toll Group (TOL), the Asian region’s leading provider of integrated logistics solutions has agreed to acquire Mitchell Corp, a major supplier of transport and logistics services to and from mining sites in Western Australia. The acquisition is subject to clearance by the competition regulator.
“The continuing development of the Western Australian (WA) resources industry is globally significant and offers Toll important growth opportunities in a number of our businesses,” said Toll Group Managing Director, Paul Little AO. “The Mitchells business is the second largest player in its sector in the Western Australian market. It will be an important part of our Global Resources Division where it will provide Toll with a strong base in the WA resources market complimenting our mining services operations in other states and creating service opportunities for other Toll businesses,” said Mr Little.
Mitchells generates annual revenue of approximately A$175 million. The acquisition price is approximately A$110 million and Toll expects the acquisition to be earnings per share accretive in its first year. Toll is pleased to announce that Bechtel Oil, Gas and Chemicals has awarded Toll Global Resources a contract for dedicated Roll On Roll Off vessels between Gladstone and Curtis Island to support the construction of the QCLNG Project by BG subsidiary, QGC. Toll Global Resources is on the short-list to build, own and operate Darwin’s proposed Marine Supply Base (MSB). The MSB will provide space for rig tenders supplying offshore oil and gas activities in the fast growing development area from the Arafura Sea through to the Browse Basin.
http://www.traderdealer.com.au/Fundamentals/tol
