The deal means Walter can offer mines equipment hire on top of its manpower and project management services.

Walter’s fleet will now boast three continuous miners, six shuttle cars and four feeder breakers. The new equipment includes two Waracars and two feeder breakers, which Waratah will deliver during the first quarter.

Waratah will continue to service the hire fleet with repairs, parts and field service maintenance.

“For most of our customers it will be business as usual with the same Waratah team supporting the hire fleet,” Walter business development general manager Peter Roberts said.

The acquired equipment means Walter can also gain an edge over its competitors when tendering for contracts.

“A lot of our competitors rely on the equipment from clients, and equipment is getting vary scarce these days,” Roberts said.

“Currently we have four significant roadway contracts and in every one of those contacts the client is supplying the equipment.

“This fleet of three sets of equipment will enable us to go to a client and say not only can we bring you the manpower and project management, but here is the equipment as well.”

For Waratah Engineering the deal means it is able to significantly reduce debt and allows the management to focus on continuing to grow the engineering business as an original equipment manufacturer, according to managing director Mark Kingshott.