Being an RCR holder, I was right cheesed off (being terribly...

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westmount

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15/02/19

16:44

Post #: 37452650
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Originally posted by sabine: ↑

And that they will cintinue to be provided under the management of NRW
RCR clients - “wow that is great news! Thank goodness it is in reputable and safe hands ...you guys are the bomb! We are going to definitely continue to do business with you now ... and we’re going to tell our friends!”
NWH clients -“ gee Jules how did you pull this one off ? This is exactly what we needed from you . We were wishing you offered a more comprehensive service and now you have secured the best team in the business at exactly the right time ! Can you look after this for us now?....oh and this ? And the maintenance?
We can just leave it up to you ?
Excellent”

Interestingly there was someone else chasing the business :
https://thewest.com.au/business/eng...ught-in-rcr-tomlinson-collapse-ng-b881102192z
... “The administrators have struck four deals to sell RCR businesses for undisclosed sums, excluding the $10 million sale of the WA-focused mining technology and heat treatment units to NRW Holdings.

The report said a second party had also negotiated to buy the businesses NRW bought.

An attempt to sell RCR as a group was abandoned in late December when each of the seven parties which conducted due diligence declined to submit final bids, the report said....”
I wonder what the other offer was?
Whatever NRW decided to bid higher.
This company has the somewhat unusual philosophy of being prepared to pay more for quality and of also being prepared to walk away from jobs that are not worthwhile.
It’s reputation as a premier contractor can only be enhanced by the quiet assurance with which it conducts business and the alignment with excellence as demonstrated over and over again.

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Being an RCR holder, I was right cheesed off (being terribly polite here) about its collapse. Given the quality of its various parts, it seems to me management gave up the ghost rather than the company's businesses. But the silver lining, if there is one to be had, is that some of RCR's business units have been purchased by service cos including NRW, in which we have holdings.

Last edited by westmount: 15/02/19

NWH Price at posting: $2.00 Sentiment: Hold Disclosure: Held
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