NRW Holdings set to acquire Hughes Drilling’s East Coast operations

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Image credit: nrw.com.au

NRW Holdings is on the verge of completing the acquisition of Hughes Drilling Limited’s East Coal drilling operations following approval at the second meeting of creditors of Hughes’ and 13 related entities.

Image credit: nrw.com.au
Image credit: nrw.com.au

Hughes East Coast operations comprises a fleet of 35 large drill rigs and circa 140 employees providing services under a contract to a number of major mine operators and owners in Queensland and NSW.

The company’s East Coast Operations, which generates annual revenue of around $40 million, has a current order book of $50 million and NRW’s Managing Director Jules Pemberton said he was confident for the future of NRW’s enlarged Action Drill and Blast division.

“This acquisition is very positive for our business and aligns with NRW’s strategy to build on our existing presence in Queensland and expands our geographical service offering into NSW at a time of improving market sentiment,” Mr Pemberton said.

Adertisement

“The intention is to integrate the acquisition as quickly as possible with minimum disruption to staff and clients.”