UIS sells for $ 25.5 mil­lion

Townsville Bulletin - - Investor -

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’’.

Al­lan Camp­bell

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