Swedish steel fabrication and processing group SSAB has bought a 51 per cent stake in Perth’s G&G Mining Fabrication.
G&G specialises in fabrication, design and refurbishment of mining earthmoving equipment.
At its peak, the company has employed around 135 staff in Western Australia.
G&G opened the $18 million first stage of its workshop expansion in Hazelmere in 2010.
Commercial terms of the transaction were not disclosed.
SSAB director of wear services Claes Lowgren said the acquisition would take the company one step forwards to establishing a major Western Australian presence.
“We can now offer products, wear parts and services directly to mining end-users,” Mr Lowgren said.
G&G chief executive Richard Ladny said the deal would combine the company’s strengths with SSAB’s wear and materials knowledge.
“The joint development of more efficient mining buckets, using innovative designs and wear materials such as Hardox wear plates is a good example of how we will combine our strengths to deliver strong solutions to the mining industry,” Mr Ladny said.
The deal remains subject to various conditions.
G&G was advised by Subiaco firm Tomkins Turner Corporate Advisory.
