08/07/2014 - 11:12

Calibre acquires Ark

08/07/2014 - 11:12

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Perth-based Ark Maintenance has been acquired by Calibre Group subsidiary G&S Engineering Services for $3.3 million.

Calibre acquires Ark
Ark Maintenance was engaged at Rio Tinto’s Parker Point facility.

Perth-based Ark Maintenance has been acquired by Calibre Group subsidiary G&S Engineering Services for $3.3 million.

The acquisition is part of a larger strategy of expansion to increase capability in the energy, resources and infrastructure markets for diversified engineer Calibre.

Ark is a provider of professional project management and cost-effective specialised maintenance of machinery in the resources sector.

Business News reported last month that G&S had been awarded a $79 million contract by BHP Billiton Mitsubishi Alliance for expansion work at Hay Point coal terminal in Queensland.

Since its $75 million dollar initial public offering in 2012, Calibre’s share price has fallen nearly 75 per cent, despite winning contracts at Roy Hill

In February this year, Calibre announced lower-than-anticipated revenue in its rail and transport business had resulted in a 13 per cent fall in half-yearly net profit.

But strong performance from G&S boosted Calibre’s overall revenue.

Calibre traded at 43 cents, up 4.9 per cent at the time of writing.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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