Indian-owned company AvidSys Group has purchased the remaining parts of RCR Tomlinson – RCR Resources, RCR Power and RCR Water West – following the recently announced sale of RCR Mining and RCR Heat Treatment to NRW Holdings.
This final sale has saved the jobs and entitlements of a further 150 employees, less than three months after RCR Tomlinson’s voluntary administration in November 2018.
AvidSys, owned by parent company Sanrachna Group, is an international group of businesses operating across metals and mining, media, construction and infrastructure development, industrial automation and other sectors.
The RCR businesses will be an addition to AvidSys’ Australian portfolio that includes Remsafe, a remote isolation technology provider which serves mining majors Rio Tinto, BHP and Anglo American.
“This transaction represents a strategic extension of our global strategy to provide vertically integrated end-to-end businesses as part of our wider group,” chairman of AvidSys Resources division Ansh Gautam said.
“The RCR team is well regarded in Western Australia – we respect and want to build on RCR’s 120-year history for many years to come.
“We look forward to welcoming the RCR employees into the AvidSys family.”
The transaction concludes the sale process of collapsed engineering company RCR Tomlinson in Western Australia, with transactions achieved for all business units securing around 500 jobs, according to Rob Brauer, partner of RCR Tomlinson’s voluntary administrator McGrathNicol.
“AvidSys’ investment in RCR’s assets in Western Australia ensures the local management team led by Andy Griffin will continue to deliver for its longstanding customer base,” Brauer said.