Automotive and aerospace equipment developer Orbital Corporation’s majority owned mine site safety product Remsafe has secured a $2 million order from a major Western Australian iron ore mining company.
Automotive and aerospace equipment developer Orbital Corporation’s majority owned mine site safety product REMSAFE has secured a $2 million order from a major Western Australian iron ore mining company.
While Orbital could not clarify which company has signed on to receive the $2 million of Remsafe systems, the orders came from one of its three major ongoing clients – BHP Billiton, Rio Tinto and Fortescue Metals Group.
The installation and commissioning of the new systems is scheduled for the second half of 2015.
Less than a week after the successful acquisition was finalised, Orbital announced its stake in the Remsafe business had increased to 55 per cent following the provision of an additional $1 million in working capital.
In a stetement today, Orbital said Remsafe had successfully integration into Orbital’s business following the majority stake acquisition, and the immediate focused would be on growing the existing order book, pursuing new market opportunities and continuing product development of the Remsafe technology.
The systems are marketed as a “heavy industry high voltage electrical remote isolation system for use in bulk handling mining operations”, and allow for the fast and safe isolation of equipment for repair or maintenance.
“Orbital has an aggressive strategy for growth and diversification and delivering on Remsafe’s sales growth potential is a key element,” he said.
“Remsafe products reduce the time taken to electronically isolate conveyors by up to 98 per cent and, in an increasingly competitive and cost focused iron ore industry, provide a compelling solution for all Pilbara miners,” Mr Lane said.