AMP buys interest in Runge

MAJOR Australian banking and investment group AMP has bought a 25% interest in leading software and mining technology services provider Runge.
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Information derived from Runge software

Staff Reporter

The move comes as Runge positions itself for further growth in operations and revenue.

Since its establishment in 1977, the company has been building strong financial performance with an average growth of 25% compounding annually over the past five years.

The company’s best -known products are its suite of software mine planning and scheduling tools such as XPAC and newly released XACT.

Over the past year, Runge’s international presence has grown through acquisition of an interest in Mineral Resource Management (MRM) in South Africa and United States-based consulting and engineering firm Pincock Allen & Holt.

“AMP’s involvement in the ownership of Runge will significantly accelerate our plans for further acquisitions and profit growth,” Runge managing director Tony Kinnane said.

“As the Australian mining technology services sector is in a strong position globally, Runge is now in a pre-eminent position to capitalise on a strong balance sheet and profit profile to take advantage of this market, both through its product range and the talented people within the organisation,” he said.