Ausdrill in trading halt ahead of acquisition
Ausdrill in trading halt ahead of acquisition

Mining services company Ausdrill has gone into a trading ahead of announcing an acquisition.

Ausdrill last month struck a non-binding deal to buy Hazelmere-based mining equipment company Best Tractors Parts.

Both sides then expressed confidence a sale could go ahead, subject to Ausdrill arranging financing for the transaction.

BTP is owned by brothers Brian and Greg Murphy. The business includes reconditioning and refurbishing earthmoving parts; rental of heavy earthmoving equipment and specialised mining support vehicles; and sales of earthmoving equipment.

It also has a hydraulics and engineering capability and a global procurement network.

The company reported a net profit for 2010-11 of $1.78 million - up from $1.4 million the year before - on revenue of $27.5 million.

Ausdrill's shares were down one cent to $3.44 when trading halted.

The West Australian

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