Ann: NRW acquires RCR Mining & RCR Heat Treatment businesses, page-15

The West Australian says it is the bulk of RCR’s Western Australian business ?


“NRW buys RCR Tomlinson WA businesses for $10 million
Peter WilliamsThe West Australian
Thursday, 31 January 2019 10:49AM

A manufacturing worker at RCR Tomlinson’s Welshpool workshop.Picture: Mogens Johansen/The West Australian
Mining and civil contractor NRW Holdings has bought the bulk of collapsed engineering company RCR Tomlinson’s WA-based operations for $10 million.

The deal with RCR’s administrators to buy the mining and heat treatment businesses secures the jobs of about 280 people, mostly in Welshpool and Bunbury.

RCR administrator and McGrathNicol partner Rob Brauer said the sale ensured the RCR name remained prominent in the WA market and provided continuity for customers.



"This is a great outcome which secures the future of much of the original RCR Tomlinson business that was established over 100 years ago,” Mr Brauer said.

This is the fourth sale of RCR assets since the company failed last year because of a solar energy project cost blowout.

NRW said the two businesses generated $110 million revenue in fiscal 2018 and had a track record of positive earnings.

“This acquisition will allow us to provide incremental services, in line with our strategic objectives to a number of core clients common to both NRW and the RCR businesses to be acquired,” managing director Jules Pemberton said.

Mr Pemberton said the businesses’ maintenance work would broaden NRW’s offering across mining and oil and gas.

NRW chief financial officer Andrew Walsh is a former CFO of RCR Tomlinson. “This is a financially compelling acquisition with the business providing complementary services and delivering a diversified base of recurring maintenance and project revenue,” Mr Walsh said.

NRW’s shares were down 6.2¢, or 3.3 per cent, to $1.917 at 10.32am.”

https://thewest.com.au/business/min...n-wa-businesses-for-10-million-ng-b881090479z