Allied Work Force Group acquires majority interest in a Waihi based labor provider

Comments Off | 09-21-2010

Allied Work Force Group has bought a majority shareholding in a Waihi labor provider, terming it a major acquisition. From the acquisition, Allied Work Force Group hopes to create a new subsidiary with the acquired firm’s current owner, said the firm. The subsidiary will be named AWF Mourant Ltd. The enlarged entity will be based in Waihi, from where the existing operations of the acquisition target are located.

The existing business in Waihi has been crucial in the provision of skilled labor to the mining industry for the past decade. AWF plans to improve the services being provided at the firm’s existing operations while at the same time developing the business to create the core of the Hauraki/Coromandel expanse operation. Allied Work Force Group chief executive officer, Mike Huddleston said the firm will be acquiring a 75 per cent stake in what he termed a “strong and profitable domestic operation in Waihi.”

From the Waihi operations, Allied Work Force Group is hopeful it will get opportunities for its national expertise in the further development of the business. In addition, AWF stands to gain lots from reinforcing its operations in the burgeoning mining industry, he said. According to Huddleston, the retailer, David Croker, boasts of excellent skills and expertise that it can use in the new business whereas AWF will be crucial in developing the current relationships and expanding the business.

As it is, the business offers real opportunity for AWF to enhance employment opportunities for quality domestic labor within and outside the mining industry in the region. The acquisition will be concluded on the 30th of September and is expected to be accretive to earnings immediately, said AWF. Current trading conditions mean AWF continues on track to achieve a result more than twice the result achieved for the same period last year, as was indicated by managing director, Simon Hull at the annual meeting.

Allied Work Force is a public company listed on the New Zealand Stock Exchange and is the leading specialist provider of on-hire labor to industry and commerce. It was begun slightly more than two decades ago. With over 20 year’s industry experience and a national footprint of branches from Kaitaia in the north, to Invercargill in the south, the firm offers solution to various employment needs. Allied Work Force has grown to be one of the largest employers in New Zealand.

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Posted in Foreign Direct Investment/FDI New Zealand, General, Mining Investment New Zealand |

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