The PPK Group has acquired coal mining equipment manufacturer COALTRAM.
It purchased the business from Diversified Mining Services for $13 million, and includes the Tomago manufacturing facility.
According to PPK the acquired assets, including plant, equipment, inventory, and hire fleet are in excess of $17 million.
Acquisition includes COALTRAM trademarks, rights to the company’s flameproof alternators for use in methane gas prone underground coal mining environments, and equipment hire.
Speaking on the acquisition, PPK’s chairman Robin Levison said “finalisation of the COALTRAM business is the first step in the PPK strategy of acquiring mining services businesses that have a strong product or service offering at at time in the cycle where their value may not be full appreciated by the wider market”.