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Macmahon buys 60pc of MVM Rail

CONTRACT mining, civil engineering and quarrying company Macmahon Holdings Ltd has acquired 60 per cent of national rail construction and maintenance business MVM Rail Pty Ltd for $5.3 million.The COMSA Group of Spain will retain a 40 per cent stake in MVM Rail Pty Ltd. Macmahon chief executive Nick Bowen said the agreement provided the company with access to a new and growing market, as well as expanding its customer base. MVM will have access to specialised equipment, assistance, experience and key experts from COMSA.MVM currently generates $35 million in annual revenue and this is forecast to increase to more than $60 million in 2007 from its $110 million order book, Mr Bowen said.MVM employs 50 people at projects in New South Wales, Victoria, Western Australia and Asia. It has offices in Perth, Sydney and Malaysia.The COMSA Group has an annual turnover of $1.5 billion and directly employs more than 3,500 people worldwide.COMSA has more than 100 years’ experience in railways, from trams to very high-speed lines. It also provides services to the railway sector including design, construction and ongoing maintenance.

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