UIS sells for $ 25.5 million
INFRASTRUCTURE and mining services group AJ Lucas Ltd says it has agreed to sell its Underground In-Seam Services Business ( UIS Business) to Industrea Ltd for $ 25.5 million. AJ Lucas says 45 staff members have all been offered employment by Industrea. The UIS Business was formed in 2000 from Lucas’ horizontal directional drilling activities. Since then, it had diversified to become the largest integrated drilling services provider to the coal and coal seam gas industries in Australia. AJ Lucas chairman Allan Campbell said the underground business was being sold because it was considered ‘‘ more of a mining services activity and therefore outside the company’s core capability’’.