Apr 22 2013
Muswellbrook mining services company SubZero Holdings Pty Ltd will list on the Australian Securities Exchange (ASX) as SubZero Group Limited Monday 22 April.
The SubZero Group finalised a Share Purchase Agreement with SVC Group Limited, an ASX listed company on the 11th April 2013.
The SubZero group operates an integrated portfolio of essential mining services with a presence in more than 25 coal mines across NSW and Queensland.
SubZero Group Managing Director Scott Farrell said listing on the ASX would provide the company with the opportunity to continue its commitment to growth and capitalise on the benefits of its new capabilities and capacity at the company’s new 8,700 sqm purpose built mining equipment and machinery maintenance and refurbishment facility in Muswellbrook.
“This is an exciting time for a company which started in 1999 with a $10,000 personal loan; we now employ more than 500 people with budget targets exceeding $90 million,” Mr Farrell said.
“We have grown the business over the past 14 years to become a ‘one stop shop’ for critical mining services in the Hunter and we look forward to expanding our operations into Gunnedah and the Western coal fields of NSW and Queensland coal fields. Our investment in infrastructure in the Hunter Valley has allowed us to offer a range of comprehensive services and products second to none.”
SubZero has maintained long term relationships with BHP Billiton and Rio Tinto through its offering of boutique mining support services and continual focus on their operational needs.
Mr Farrell believes SubZero is well positioned to meet the challenges currently facing the mining industry.
“Even in difficult times, machinery maintenance schedules must be maintained to ensure production targets are achieved and operational efficiencies are maintained.
“Through the stewardship of our board which has significant industry experience, and an exciting project pipeline for product growth nationally and internationally SubZero has a very bright future,” Mr Farrell said.
The ASX listing code for SubZero Group Limited will be SZG.