RCR Tomlinson positions for growth

ENGINEERING group RCR Tomlinson has completed the acquisition of Positron Group, positioning the company to increase its growth rate in the Bowen Basin coal industry.
RCR Tomlinson positions for growth RCR Tomlinson positions for growth RCR Tomlinson positions for growth RCR Tomlinson positions for growth RCR Tomlinson positions for growth

RCR Tomlinson undertaking maintenance.

Angie Tomlinson

The acquisition will see the establishment of a fourth business unit - RCR Electrical Services.

 

Positron is in the final stages of completing negotiations for two long-term electrical maintenance contracts. Within the last week Positron has been awarded a construction contract in the high voltage infrastructure industry sector in New South Wales.

 

In the last two months RCR has accepted $40 million worth of major new orders in the construction and maintenance business unit along with equipment manufacturing contracts.

 

Positron was purchased for $A43.7 million, with purchase consideration of $20.7 million cash plus an additional $1 million cash on successful completion of EBIT earn-out based on 2007-08 financial results and 10 million RCR shares, of which 8.5 million will be held in escrow for 12 months. The acquisition includes $11 million worth of net assets.

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