Redpath Mining subsidiary Redpath (Australia) Holdings has signed a share purchase agreement to acquire RUC Mining Contractors.
Company CEO George Flumerfelt said the acquisition reconfirms Redpath’s position as a global leader in mine development, shaft sinking and raise drilling services.
Moreover, once complete, the acquisition will enable Redpath to deliver a more diverse range of services to customers and opportunities to employees, including:
- Mechanized mining: A single company that brings together the best of Redpath and RUC to offer customers comprehensive capability and reach.
- Raise drilling: Be the Australian market leader, with increased investment in training and equipment that will strengthen our global position.
- Shaft sinking: Giving Redpath customers access to new capabilities from RUC, while also giving RUC customers access to Redpath’s global shaft sinking business.
- Greater connectivity across Australia: bridging the east and west coasts with dedicated plant, assets and training facilities on both sides of the country.
- Diverse and iconic projects: Become the go-to turn-key contractor for major vertical and lateral development works.
“Redpath has held RUC in high regard for a long time and this agreement is evidence of the quality of service and expertise it sees across the RUC team. Our combined capabilities will be a compelling proposition to customers and strengthen our position in capturing large and important projects in the future,” said Flumerfelt.
“Acquiring RUC will give Redpath enhanced scale, capabilities and stronger balance sheet to strengthen our market position and fund growth, particularly in the Australian, African, European and Asian markets.”
“Our presence in the Australian market will be comprehensive, with a country-wide footprint able to provide a full range of services and support from both the east and west coasts, benefitting customers and employees.”
Pending regulatory approvals, the acquisition should be completed by June.
Source: redpathmining.cm