RCR Mining & Heat Treatment to join NRW Holdings
NRW Holdings is pleased to announce that it has entered into an agreement with the Administrators’ of RCR Tomlinson Limited to acquire the assets of RCR Mining and RCR Heat Treatment. The acquisition is anticipated to complete within the next two weeks.
RCR Mining and Heat Treatment form part of the original RCR Tomlinson business established over 100 years ago. Employing ~300 people with primary locations in Welshpool and the regional centre of Bunbury together with a facility in Victoria.
Jules Pemberton, NRW Holding’s Chief Executive Officer and Managing Director commented on the acquisition. “This acquisition will allow us to provide incremental services, in line with our strategic objectives to several core clients common to both NRW and the RCR businesses to be acquired.”
NRW Chief Financial Officer, Andrew Walsh, also commented “Given my four years as CFO at RCR Tomlinson up to November 2013, I am very familiar with the Mining Technologies and Heat Treatment businesses and the long serving management team led by Ian Gibbs. This is a financially compelling acquisition with the businesses providing complementary services and delivering a diversified base of recurring maintenance and project revenue.”
For more information, read the full ASX announcement here.