MaxiTRANS being sold
ONE OF AUSTRALIA’S LEADING HEAVY TRAILER manufacturers, MaxiTRANS, is selling its trailer business, including its New Zealand operations.
The sale, to the Australian Trailer Solutions Group – reportedly a recentlyestablished group of Aussie investors – is worth more than $NZ50million.
MaxiTRANS says that,to enable the sale,it is separating its trailer manufacturing, sales and service operation and its MaxiPARTS truck and trailer parts operation – the current owners retaining the latter.
The sale includes MaxiTRANS factory property in Ballarat, Victoria, its entire manufacturing operations (two in Victoria, one in Queensland and one in Auckland), plus company-owned dealerships and service centres (including one in Christchurch)
And, subject to the finalisation of that $NZ31.65m deal, the company says it is well advanced in discussions to sell two other MaxiTRANS factories it owns in Australia to a third party – for $NZ18.89m.
The deal is subject to shareholder signoff, but MaxiTRANS managing director and CEO Dean Jenkins says the sale – which includes the MaxiTRANS name – “creates two simplified and more focused businesses.
“In recent years, the financial performance of trailers has been volatile. Having explored a range of alternatives to address these issues, we have concluded that these steps provide the best outcome for our shareholders, customers and people, while also creating a brighter future for the trailers business under ATSG’s ownership.
“A standalone MaxiPARTS will have a stronger financial platform from which to develop its market-leading position and greater financial flexibility to play a prominent role in industry consolidation. It will also be a less complex business, which will enable a significant reduction in corporate overhead costs.”
The current owners and the purchasers have formally agreed to continue working together into the future.
Says Jenkins: “For over 75 years, we have been building MaxiTRANS into one of the transport industry’s leading companies. MaxiTRANS and MaxiPARTS will continue to build on this heritage, with our ongoing commitment to our customers, employees, suppliers, and the transport industry to deliver safer, more efficient, and reliable transport solutions.”
MaxiTRANS celebrated 75 years of the Freighter brand in March this year. The company began building MaxiCUBE trailers at its Auckland factory in 1995. MaxiTRANS NZ ranks as one of the country’s top 10 trailer manufacturers – selling 42 Freighter and 10 MaxiCUBE trailers here in the first seven months of this year.
T&D