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GR ENGINEERING SERVICES LIMITED — M&A Activity 2014
Apr 22, 2014
65003_rns_2014-04-22_c85bee2e-9707-467e-a23f-a173271d3012.pdf
M&A Activity
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ASX Announcement
23 April 2014
For immediate release to the market
COMPLETION OF PRODUCTION SOLUTIONS ACQUISITION
GR Engineering Services Limited (ASX:GNG) ( GR Engineering ) is pleased to announce that further to its ASX announcement of 13 December 2013, it has completed the acquisition of Production Solutions, a leading independent provider of specialist operations & maintenance and well management services to the oil and gas sector across Australia and South East Asia.
GR Engineering has established a wholly owned subsidiary, Upstream Production Solutions Pty Limited for the purposes of acquiring the business assets of Production Solutions and which will be the operating entity.
Upstream Production Solutions will operate as an independent oil and gas services business unit of GR Engineering. Key customer contracts have been novated and the existing management and key personnel of the business have been engaged by Upstream Production Solutions to continue serving its strong client base and to pursue new opportunities in the onshore and offshore oil and gas sector.
Ends.
For further information contact:
Geoff Jones Joe Totaro Managing Director CFO & Company Secretary +61 8 6272 6149 +61 8 6272 6128 [email protected] [email protected]
GR Engineering Services Limited (ASX:GNG) is an engineering, consulting and contracting company specialising in fixed price engineering design and construction services to the resources and mineral processing industry.
Founded in Perth, Western Australia in 2006, GR Engineering has rapidly grown through the completion of design and construction projects for a diverse range of clients, including global mining houses, mid-tier miners and junior developers undertaking their first project.
GR Engineering has undertaken feasibility studies for projects in over 20 countries. These studies play a key role in delivering organic growth opportunities through their conversion into design and construction projects.
GR Engineering directly employs approximately 170 professional and support staff at its offices in Perth and Brisbane in addition to its direct construction workforce and subcontractors.
GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: [email protected] Website: www.gres.com.au PO Box 258, Belmont WA 6984 179 Great Eastern Highway, Belmont WA 6104