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EVZ LIMITED — Capital/Financing Update 2019
Mar 6, 2019
64889_rns_2019-03-06_7a44b7f5-494c-410d-8194-7a6077d2f125.pdf
Capital/Financing Update
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7 March 2019
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The Manager Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000
ACQUISITION OF ULTRAFLOW SIPHONICS
EVZ Limited (ASX: EVZ) is pleased to announce its wholly owned subsidiary Syfon Systems Pty Ltd has acquired the ongoing project contracts of Ultraflow Siphonics Pty Ltd.
The acquisition will add approximately $3M to annual sales revenue and increase contracted work in hand by $2M initially with further new project tender bids and opportunities likely to flow on from this transaction. The acquisition of the ongoing contracts has been settled for a nominal amount in cash.
Ultraflow Siphonics founder and managing director, Mathew Klintfalt will join Syfon Systems to strengthen the existing management team whilst advancing Syfon Systems market share in Sydney, NSW and Perth, WA. Syfon Systems expect to further benefit from this transaction both in technical capability and market share.
This acquisition is consistent with EVZ Limited’s earnings & growth strategy communicated to the market in February 2019.
For further information please contact:
Scott Farthing Chief Executive Officer EVZ Limited Tel: +61 3 545 5288 Mob: +61 411 11 7403 Email: [email protected]
About EVZ Limited
EVZ Limited is an industrial group with a portfolio of specialist businesses in the engineering services sector. EVZ operates in the areas of fuel industry mechanical services including bulk tank design and construction, syfonic storm water and roof drainage and power generation plant operations and maintenance through subsidiaries, Brockman Engineering, Syfon Systems and TSF Power. www.evz.com.au
EVZ Limited ABN 87 010 550 357
115 | 838 Collins Street, Melbourne VIC 3008 Australia P + 61 3 9545 5288 F + 61 3 9542 6061 www.evz.com.au