Coal move

SERVICE provider Macmahon has further boosted its Queensland coal presence with the acquisition of maintenance and civil specialist TMM Group.

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The Brisbane-based TMM provides civil construction and operations and maintenance services to the Queensland coal industry.

TMM reported revenue of around $60 million last year.

The acquisition will give Macmahon exposure to core mining work through contracts for initial site earthworks and construction services, and the company will also be able to target site rehabilitation projects.

Under the agreement Macmahon will pay TMM an upfront payment – a portion of which will be cash – and further payments, subject to the TMM business meeting performance indicators in the current and next two financial years, which are to be paid with cash or with Macmahon shares.

Macmahon has...