Delivering value to the industry, based on history, experience and exceptional service was the impetus behind the creation of VALMEC Group in 2013, an ASX listed multidiscipline construction and maintenance service provider in Australia.
Founded by an experienced team of engineering, procurement and construction (EPC) and contracting professionals – each with more than 30 years in the Australian gas industry – VALMEC is an Australian Energy and Infrastructure Services group providing specialised packaged equipment, construction, maintenance, commissioning, integrity testing and inspection services to the oil and gas, resources, energy and infrastructure sectors.
The VALMEC growth story since its ASX listing has been driven by an ability to offer clients a best value solution to their Projects. Being able to deliver an extensive array of internal capabilities encompassing Civil, Structural, Mechanical, Piping, Electrical and Instrumentation, Maintenance and Testing services, representing global products and technology within its markets and having culturally aligned experienced people leading execution, has been a key to VALMEC’s success thus far.
The past 12 months has been a significant chapter in the exciting VALMEC story, placing the company in a great position to service the growth in onshore gas exploration and development in Australia.
During the year, VALMEC experienced significant growth in its gas construction activities, allowing it to expand its total FY18 revenues by more 40% over the prior year and more than double its revenues over the last 24 months.
The next 24 months are expected to yield more of the same as VALMEC’s positioning within its markets continues to leverage off a strengthening gas thematic in Australia. Gas driven infrastructure, along with resource sector growth and increases in water utilities spending by Government is delivering VALMEC larger and more robust pipelines of work than twelve months ago, with a significant increase in tender volumes, budget pricing and expressions of interest (EOI) registrations.
Single Source Delivery Strategy
The VALMEC strategy is about delivering value across the life cycle of our Clients’ assets. It is this focus on providing a “single source” sales proposition that enables VALMEC to deliver value across every aspect of its operations.
Complementing this organic diversification of services offered, VALMEC has also successfully targeted acquisitions that align with the “single source” strategy, enabling it today, to offer its Clients a variety of sales and service opportunities.
In 2015, VALMEC announced the acquisition of Exterran Australia, the Australian services and maintenance arm of NYE listed Exterran Corporation, the world’s largest packager of gas engine driven reciprocating compression.
As a result of this acquisition, VALMEC has now become one of the leading domestic players in gas compression services and operations. The acquisition also provided VALMEC access to proven engineered solutions in production facilities, including oil and gas processing and treatment and natural gas compression which allowed the Company even greater leverage to the gas sector.
VALMEC technicians are OEM certified and have extensive knowledge and experience to execute works on Client compression and processing packages in accordance with the OEM operations’ and maintenance guidelines. Our capabilities include scheduled and unscheduled servicing, breakdown diagnosis and repairs, overhauls and upgrades. They are supported by our ability to improve maintenance schedules, conduct root cause analyses, and modification engineering.
VALMEC also recognises the needs of our customers for optimised equipment availability and performance wherever and whenever. The VALMEC delivery model across Australia is supported by more than $6 million of spare parts and replacement engines located in service facilities situated in Perth, Brisbane and Roma.
APTS – Pipeline Testing and Accreditation
VALMEC’s strategic growth strategy led to the acquisition of APTS Pty Ltd in early 2018.
VALMEC’s growing project and service footprint enabled APTS to quickly establish market positioning as a leader in the pressure testing and calibration industry, whilst delivering new technology and tender pipeline opportunities to the Group.
The result is a diversified business that has enhanced our offering of a comprehensive suite of services to clients and increased revenue opportunities.
The acquisition of APTS introduced 55 new employees, over $5m of long-term service contracts and new pipeline and structural testing capabilities to the Group. With the business now successfully integrated into the Group, APTS enters 2019 with a new management team, new technology and accreditations and an improved tender pipeline.
APTS will now focus on growth by leveraging its existing service capabilities to secure longer term operation and shutdown opportunities through new asset integrity and inspection services and through joint integrated delivery models with the VALMEC Projects and Services teams.
Our People / Our Community
At the core of the VALMEC success story is our people and the ability of our leaders to create a safe and inclusive workplace that is as diverse as the communities we operate in.
VALMEC currently employs over 300 project and support personnel, operating from a growing footprint located throughout Western Australia, South Australia, Northern Territory, Victoria, New South Wales and Queensland. Our newly opened Brisbane and Roma facilities establishes a foundation for future growth and continues to strengthen our ability to service a growing East Coast gas industry.
VALMEC continues to maintain industry-leading personal safety rates with a lost time injury frequency rate (LTIFR) of Zero (2500 + days). This achievement has been long standing since November 2011 and could only be attained by having a workforce committed to zero harm and supported by robust HSE systems and procedures.
Building respectful relationships with Aboriginal and Torres Strait Islander peoples and creating diverse and sustainable opportunities within their communities in which we work, exists as a business imperative for VALMEC, rather than just a moral obligation or societal goal.
By acknowledging the traditional custodians of the lands on which we work, the VALMEC vision is to work together with Indigenous communities and their desire to create new pathways with strong foundations, enhancing opportunities for provision of goods and services, education and assisting in achieving skills and gainful employment.
At VALMEC, our guiding principle is clear – provide quality results through safe and innovative solutions, strong Client and Community relationships and focused personnel.
Today VALMEC has grown to over $100 million in sales, having delivered a large number of turnkey construction projects from compressor station facilities, gas pipelines, metering facilities, power generation and switchrooms, water pumping and treatment facilities since its inception in 2013.
From Service contracts valued at $100,000 through to EPC projects valued up to $40 million, VALMEC’s expanding project and service capabilities have allowed it to become a trusted multidisciplinary service partner to its Clients, and it continues to be well placed to leverage its best of breed reputation and strategic work opportunities within its industry sectors.
During 2018, VALMEC has been able to introduce new Clients to these expanded capabilities. Saracen Minerals entrusted VALMEC to deliver critical water infrastructure to its Thunderbox Mine in Western Australia, whilst on the East Coast, our Services teams are showcasing their extensive capabilities in power generation to Sydney Water.
VALMEC welcomes the opportunity to discuss how we can add value to your business.