Aspermont acquires 30% of environment publisher

Perth-based industry publisher Aspermont Ltd will acquire 30 per cent of New South Wales-based environment business publisher Waste Management and Environment Media Pty Ltd, expanding its reach into the Environment Management sector.

Aspermont will spend $300,000 on the stake, funded from the company's working capital, with a view developing an online information portal together.

The full text of a company announcement is pasted below.

Aspermont Limited and WME have agreed to Aspermont purchasing 30% equity in WME.

The purchase price is $300,000 and will be settled through a combination of cash and services. The deal will be funded entirely out of working capital.

The purchase furthers Aspermont's strategy of expanding its reach into the Environment Management sector. The sector has been identified as a key growth area for the company. The sector readily compliments Aspermont's existing key sectors of Mining, Oil
& Gas and Construction.

The two companies will be working closely to develop information services for the sector.

The initial priority is the development of a long term online solution, that combines Aspermont's Environmental Management News site with that of WME Weekly.

Aspermont chief executive Colm O'Brien said: "We are looking forward to working closely with WME in expanding this sector. WME is a distinctive leader in its field with its flagship product in existence for 18 years, this depth of experience combined with Aspermont's products and solution will be a robust platform to grow both businesses.

Commenting on the transaction, Ross May Publisher WME noted "This transaction will enable WME to accelerate its growth as it meets the news and information needs of the rapidly growing environmental management sector. The partnership with Aspermont is a
great fit. Both companies are leaders in their areas of influence and together will be able to pursue new market opportunities."