Thiess acquires Hunter Valley Earthmoving

Issue Date:  13 August 1999
Issued By:  Thiess Contractors Pty Limited

Thiess Contractors Pty. Limited today announced the purchase of 100% of the shares of Hunter Valley Earthmoving Co. Pty. Ltd (HVE), a mining, civil and heavy earthmoving contractor that has been operating in the Hunter Valley of NSW for 30 years.

HVE has 120 employees and work in hand to the value of $80 million. This includes contracts at the Liddell, Westside and Gunnedah open cut mines, as well as a number of civil construction contracts.

Thiess General Manager NSW/ACT, Mr David Saxelby, confirmed HVE will operate as an independent subsidiary of Thiess.

“This strategic acquisition further strengthens Thiess Contractors’ position in the Australian resources sector, particularly in coal related projects.

“The HVE business is expected to contribute annual revenue in excess of $50 million, increasing the total volume of business done by Thiess’ NSW operations to around $400 million per annum,” he said.

Thiess currently operates the Mt Owen Mine in the Hunter Valley for Hunter Valley Coal Corporation, which is owned by Glencore. The mine produces 3.2 million tonnes of thermal coal product and 0.4 million tonnes of semi-soft coking coal product per annum. This life of mine project is in its third year of operation and was recently awarded a NOSA 5 Star safety rating confirming its performance at world’s best practice.

“The Hunter Valley is one of Australia’s leading coal producing regions. The addition of HVE gives us a stronger local presence,” said Mr Saxelby.

The acquisition of HVE is one of a number of strategic initiatives Thiess has taken to extend its mining business. In June 1999, Thiess formed a strategic alliance with Portman Mining to utilise the best practice experience developed at the Burton coal mine in Queensland on future resources projects. Thiess is also establishing Quantum Explosives, which will supply a range of explosives and detonation products to the mining, quarrying and related industries.

ENDS.

Issued by:
Thiess Contractors Pty Limited
A.C.N. 010 221 486

Further information:
Mr David Saxelby
General Manager, NSW/ACT
Phone: (02) 9332 9444
Mobile: 0414 750 750

Mr Nick Jukes
Executive General Manager
Phone: (07) 3002 9000