PPK acquires drilling equipment company

PPK has acquired an underground drilling and boring equipment company, Firefly International.

It purchased the business for $1.86 million.

The business has been on an acquisition spree this year, purchasing a mining electronic management system companybuying COALTRAM, and selling off property to find more acquisitions.

Speaking on the recent buy of Firefly, PPK chairman Robin Levison said "the acquisition of Firefly continues PPK's ongoing commitment to offer, quality fit-for-purpose products and service to the underground high-gas coal mining industry".

"Firefly nicely compliments PPK's current suite of products and services; in addition Firefly has a quality customer base, particularly in the Hunter region."

It will be funded from cash reserves.

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