brr interview, page-3

Spreading wings!

Good on you Gordon :)

He sounds like such a pragmatic, organised fellow who does his homework thoroughly.

My summary of the broadcast:

The National Engineering acquisition is different from the other two as the vendors were not running the business. There's a very competent general manager at National Engineering who is staying on.

National doesn't compete with existing EVZ businesses - and other EVZ businesses have a need for structural steel which National can provide.

EVZ is maintaining its performance. 3.5 average adjusted EBIT purchase price will be paid for National - more or less on par with the other two. The purchase will be made with a combination of debt and cash - there's room for leverage on the balance sheet. Commonwealth Bank is very supportive.

Revenue is on track for $70m - 75m - Gordon suggested they will achieve $100m well before the end of 2007.

Going very well! At Young for ASX ann, Gordon addressed the National employees, offered employment, explained the deal to the workers - employees were very buoyant about the new owner.

Gordon highlighted that one of EVZ's main assets is now 370 employees, every one of them a skilled operator, - to him, the crux of the whole game.

Love his attitude. :)