Sime Darby Berhad (“SDB”) announced today that its wholly-owned subsidiary, Sime Darby Industrial Australia (“SDIA”), has agreed to acquire Heavy Maintenance Group Pty Ltd (“HMG”) from private equity fund, Pemba Capital (“Pemba”).
HMG is a leading specialist provider in the manufacture, refurbishment and surface finishing of equipment components to its customers in Australia and Asia Pacific. Operating from a large state-of-the-art facility in Brisbane, Australia, HMG services the mining, oil and gas and other heavy industries which require the manufacturing or refurbishment of hydraulic cylinders, sophisticated engineering and protective surface finishing coating.
SDIA Director Dean Mehmet said HMG would complement and add capacity to Austchrome, its existing cylinder refurbishment and chroming business in Mackay.
“The acquisition of HMG builds geographic coverage by combining our Mackay capability with those of the HMG facility in Brisbane. We are very pleased to have retained HMG’s strong management team and look forward to working with HMG to continue building its leadership in the mining cylinder refurbishment market as well as drive growth in the oil and gas sector.”
The transaction is expected to complete by end 2018, subject to approval from the Foreign Investment Review Board of Australia. Employees of HMG will remain employed by the company as it transfers to new ownership.
About Sime Darby Berhad
Sime Darby Berhad is the partner of choice for the world's best brands in the Industrial and Motors sectors. With operations in 18 countries and territories across Asia Pacific, we continue to grow, delivering sustainable value to our stakeholders through operational excellence, high performance standards and good corporate governance. Founded in 1910, Sime Darby Berhad today has a workforce of over 20,000 employees. It is listed on the main market of Bursa Malaysia with a market capitalisation of RM14.69 billion (USD3.51 billion) as at 27 October 2018.
For further information, please contact:
Tan Yee Pheng
Sime Darby Berhad
Tel: +61 400 916 725