|
|
|
| Company |
Code |
Released |
Type |
Headline |
| Transpacific Industries Group Ltd |
TPI |
5 Oct, 2007, 08:44 |
GENERAL |
Acquisitions update |
| Full Text of Announcement |
4 October 2007
Transpacific Acquisitions Update
Transpacific wishes to advise the market of a number
of important strategic acquisitions.
Since 30 June 2007, TPI:
- Completed the A$52million acquisition of the
Envirowaste assets previously advised; 50% of
Canterbury Waste Services Limited on 19 September 2007
and the Dunedin landfill and transfer station on 28
September 2007. Annualised FY08 forecast EBITDA from
these is A$7million giving a forecast contribution of
circa A$5million in FY08. There is no change in status
of the acquisition of the balance of the Envirowaste
assets.
- Increased its shareholding in Dolomatrix Limited to
19.9%. TPI's share of Dolomatrix annualised FY08
forecast NPAT is $1.2million giving a forecast FY08
contribution of circa $0.9million.
- Acquired 50% of Earthpower.
- Acquired 7 bolt on businesses for $35.4million with
annualised FY08 forecast EBITDA of $9million with a
forecast pro-rata contribution of circa $6.5million in
FY08. This includes a permitted inert landfill and
recycling site near Brisbane and a paper collection
and Material Recycling Facility (MRF) in Sydney. The
bolt ons are core to TPI's business model and include
businesses in the solid waste and recycling, energy
and manufacturing industries.
Solid waste and recycling ($30.5million for
$7.7million EBITDA)
The largest components of the bolt ons include the
purchase of 75% of a business with the following
operations;
- A permitted inert landfill site and adjacent vacant
land (57 hectares),
- 2 transfer stations (east and west of Brisbane),
- Recycling,
- Concrete crushing,
- Bin manufacturing,
- Soil and clay mining,
- Demolition,
- Construction and demolition waste disposal.
This business is predominately a recycling operation
and is located within 15km of the Brisbane CBD. It
will be a perfect fit with TPI's nearby Twigg
operations.
Another important acquisition, reaffirming TPI's move
into solid waste recycling, is a niche paper
collection business and MRF operating in Sydney. Other
acquisitions include a business in New Zealand and one
in Melbourne.
Manufacturing ($4.4million for $1.2million EBITDA)
TPI's ability to provide its range of solid and liquid
waste services depends on the availability and
efficiency of its infrastructure. Of highest
importance to TPI is the strong desire to provide
safe, reliable, efficient and clean collection
vehicles and plant to our employees, customers and the
community at large. To this end, TPI has acquired two
more manufacturers of compaction systems and bins in
order to stimulate the supply of safe and new
equipment.
TPI executive chairman Terry Peabody said, "We
are excited with these acquisitions. We have been very
successful recovering, recycling and re-using
Australia's and New Zealand's liquid waste and these
acquisitions further our recycling push into solid
waste. You will see that this company is totally
focussed on doing the right thing by the environment,
our employees and the community and we will continue
to roll out bolt ons which assist us grow the company
while satisfying these criteria".
About Transpacific Industries Group (ASX: TPI)
Transpacific's goal is to protect the environment by
providing a complete waste management service through
waste recovery, recycling and re-use, whilst
maintaining a strong commitment to safety and
reliability.
Transpacific is the leading Australasian provider of
integrated total waste management solutions with
operations in both solid and liquid waste management.
The company also provides integrated industrial
cleaning services, has a growing energy business
comprising the refining of used oil into fuel and an
established heavy-duty commercial vehicles business.
|
|
|
|
|
|
