SWIFT GROUP ANNOUNCES SALE OF ENGINEERING AND MINING PRODUCTS DIVISIONS
The Swift Group (‘Swift’), operators of Swift Engineering in Mackay and Kingaroy, the Swift Mining Products division (incorporating the SEBBA product lines), and the Swift Cooling division; announced today the pending sale of its Engineering and Mining Products divisions to ESCO Corporation (‘ESCO’). Founded in Portland Oregon (USA) in 1913 and a still a privately owned company, ESCO is a leading global provider of world class wear parts and attachments for the mining and construction industry sectors.
Swift has been a pre-eminent provider of engineering services and products to the Mackay / Bowen Basin regions of Central Qld for in excess of 30 years, and has developed an unsurpassed reputation in the mining sector for its specialist fabrication, refurbishment and site services capabilities. In recent years it has expanded its geographic footprint and range of products and services, including the highly successful SEBBA product line of heavy mining equipment which has also established a strong presence in the resource rich Indonesian market place.
“The acquisition by ESCO of Swift’s core (engineering and products) business divisions creates a compelling combination of mining products and services,” said Mark Gregory, Chief Executive Officer for the Swift Group. “Swift’s 30 year reputation and specialist skill base in fabrication, repair and site services; combined with the strength of ESCO’s global product distribution network – will deliver a service offering to the group’s Australian customer base – and opportunities for its employees - which are unparalled in the market place.”
Jeff Kershaw, Managing Director for ESCO’s Asia Pacific region, attributes ESCO’s targeting of Swift as its service and distribution vehicle for Australia, to the quality of Swift’s people and facilities, and its reputation in the local market place. “The reputation and expertise which Swift and its employees have developed over many years, provides a solid platform for ESCO to expand its network of sales and service centres – known as ESCOSupply – throughout Australia’s key mining regions. By integrating Swift Group with the ESCOSupply model, we will provide an exceptional level of service to our Australian customers.”
The ESCO acquisition of Swift’s engineering and products divisions is likely to be finalised in the coming weeks. The transaction does not include the Swift Cooling division, which will continue to operate under current management.
For further information relating to this acquisition, please contact:-
Mark Gregory
Chief Executive Officer
Swift Group
Office (07) 3368 2966 / Mobile 0413 425 400