Bis taps its war chest

RESOURCES logistics company Bis Industries has cracked open its war chest and bought underground coal mining services company UGM for an undisclosed sum.

Bis taps its war chest Bis taps its war chest Bis taps its war chest Bis taps its war chest Bis taps its war chest

Bis CEO Brad Rogers said the UGM acquisition followed Bis' recapitalisation that added new shareholders with significant global resources.

"The UGM deal reflects Bis' clear growth strategy and helps deliver a critical element of that strategy - expansion of our underground capability for the benefit of Australian underground coal mining customers.

"We will continue to implement our business strategy, which focuses on expanding our existing business platforms, supported by the introduction of new and innovative proprietary products that will add value for our customers."

The businesses Bis bought include UGM's mining services business, conveyor installation business, underground plant hire business and diesel services workshops.

The transaction scope do...

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