Mining and civil infrastructure services company Macmahon has completed its acquisition of construction engineering group Decmil.
Macmahon will operate Decmil as a wholly owned subsidiary and intends to maintain the existing Decmil branding, with the Macmahon civil business to integrate into the subsidiary.
Decmil will also continue to be led by its current chief executive officer Rod Heale.
Macmahon managing director and chief executive officer Michael Finnegan welcomed the completion of the acquisition.
“The acquisition of Decmil is aligned with Macmahon’s strategic focus to diversify earnings, reduce capital intensity and improve return on average capital employed,” Finnegan said.
“Decmil provides an established, scalable foundation to accelerate Macmahon’s growth in civil infrastructure, with exposure to a favourable contracting outlook across renewables, government infrastructure and resource infrastructure development.
“I look forward to working with the Decmil team members who are joining Macmahon, and the success the combined group can deliver to our shareholders.”
Trading in Decmil on the ASX was suspended from the close of trading on August 6 2024.
An application has been made to remove Decmil from the official list of the ASX, which is expected to take effect from the close of trading on August 16.
Macmahon is responsible for services at some of Australia’s largest mines, including Talison Lithium’s Greenbushes, Newcrest’s Telfer, and AngloGold Ashanti and Regis Resources’ Tropicana and Boston Shaker mines in Western Australia, as well as QCoal Group’s Byerwen and Anglo American’s Dawson South mines in Queensland.
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