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AUSTRALIA'S CRANE GROUP BUYS SMART ALUMINIUM.
SYDNEY, Nov 1 Asia Pulse - Crane Group Ltd (ASX:CRG) expects to increase its annual revenue by A$40 million (US$22.15 million) after its acquisition of metal distributor Smart Aluminium and various other assets.
In announcing the deals today, Crane managing director John Ingram said the acquisitions, which include certain assets of the MCK Metals Distribution business, would cost the company A$19 million.
"This acquisition is a further step in our strategy of expanding our distribution capabilities," he said.
"Together with our existing aluminium distribution business ... we will have a significant presence in the Australian market for aluminium products.
Mr Ingram said Smart Aluminium, which distributes aluminium products to small volume users primarily in the eastern states, will operate as a separate business unit, enabling it to keep its strong identity and management structure.
"We expect the ...
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Source: HighBeam Research, AUSTRALIA'S CRANE GROUP BUYS SMART ALUMINIUM.