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DGL GROUP LIMITED — Capital/Financing Update 2021
Jul 11, 2021
64770_rns_2021-07-11_b7596ca9-1208-4b5e-9cb8-725c488646bc.pdf
Capital/Financing Update
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ASX RELEASE
12 July 2021
DGL acquires the freehold property of its chemical manufacturing operation in Victoria
Auckland, New Zealand - DGL Group Limited (ASX:DGL) (NZX:DGC), ( “DGL” or the “Company” ), a specialist chemicals business that manufactures, transports, stores and processes chemicals and hazardous waste, is pleased to announce the acquisition of a property at 120 Fulton Drive, Derrmiut, Victoria for a total consideration of $5.5mil.
The site houses the head office of Chem Pack Pty Ltd (Chem Pack) and includes warehouse facilities purpose built for the formulation and storage of chemicals. The property is located approximately 20km from the Melbourne CBD and benefits from access to the main arterials including the Western Freeway and Western Ring Road.
Under the acquisition of Chem Pack, DGL obtained an option to purchase various properties owned by Chem Pack vendors that Chem Pack operates from in Fulton Drive. After completion of relevant due diligence 120 Fulton Drive was selected as the property most crucial to the business of Chem Pack and most complimentary to the broader DGL Group.
The acquisition is in accordance with DGL’s broader strategy to own the specialised sites from which it operates, which also encompasses the relevant licenses that the business requires for operations, thus ensuring that DGL can design and upgrade the properties to meet the bespoke needs of the business.
Founder and CEO of DGL, Simon Henry, said: “DGL has always had a strong focus on owning its own sites. This allows us to invest for the long term in the capital-intensive infrastructure required for the safe production and management of chemicals. This is not always possible on a leased site.”
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Approved for release by the Board of DGL.
CONTACT
Barbara Furci DGL Group Limited +64 9 309 9254 or [email protected]
DGL Warehousing and Distribution 739 Progress Road Wacol, QLD 4076 Brisbane, Australia
DGL Group Head Office Level 12, 63 Albert Street Auckland 1010, New Zealand p +64 9 309 9254
DGL Environmental Solutions 201 Five Islands Road Unanderra, NSW 2526 Wollongong, Australia
DGL Chemical Manufacturing 120 Fulton Drive Derrimut, VIC 3026 Sydney, Australia
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MEDIA ENQUIRIES
Susie Reinhardt Cannings Strategic Communications +61 401 399 781 or [email protected]
ABOUT DGL GROUP LIMITED
DGL is a well-established, founder-led, end to end chemicals business that manufactures, transports, stores and manages the processing of chemicals and hazardous waste. The Company operates a network of 26 sites, both owned and leased, across Australia and New Zealand. The Company has a strong track record of revenue and earnings growth. Total proform revenue was $180.1 million in FY20 and is forecast to increase to $209.7 million in FY22.
DGL Warehousing and Distribution 739 Progress Road Wacol, QLD 4076 Brisbane, Australia
DGL Chemical Manufacturing 120 Fulton Drive Derrimut, VIC 3026 Sydney, Australia
DGL Group Head Office Level 12, 63 Albert Street Auckland 1010, New Zealand p +64 9 309 9254
DGL Environmental Solutions 201 Five Islands Road Unanderra, NSW 2526 Wollongong, Australia