Austin successfully completes Mainetec acquisition

The Acquisition provides Austin with numerous operational benefits, both immediately and in the long-term.

Mainetec’s premium range of Hulk buckets will complement Austin’s JEC-HP high performance and standard bucket ranges, as well as bolster the company’s presence on the East coast of Australia, by leveraging Mainetec’s existing strong market share in the region. This is anticipated to have a cascading benefit to Austin’s Austbore Mackay repair and maintenance service business.

Beyond Australia, Mainetec’s electric rope shovel dipper bucket is a high-value product that Austin is already progressing plans to offer across the USA, Canada and Chile markets, which are markets that have a high demand for large dipper buckets and where Austin already has an established presence.

Additionally, Mainetec’s industry-leading condition monitoring software system, ‘Mainetrack’, will be utilised across Austin’s fleet to maximise productivity.

Austin CEO and Managing Director, David Singleton said:

“It is very pleasing to finalise our acquisition of Mainetec which will deliver significant and tangible value to Austin.

"This acquisition ticks all of the right boxes; it will complement our core product range, enhance our market presence in Australia and beyond, and is set to deliver enhanced earnings.

"I am looking forward to working with the founders of Mainetec and their workforce as we collectively strive to achieve a phase of prolonged growth.”

Read the article online at: https://www.globalminingreview.com/mining/11102022/austin-successfully-completes-mainetec-acquisition/