Calibre completes sale of G&S Engineering to DRA
Calibre Group Limited ("Calibre") today completed the sale of its subsidiary G&S Engineering Services Pty Ltd (G&S) to DRA Australia Holdings Pty Ltd (DRA), as announced on 4 July 2018.
Mr Peter Massey, Calibre’s CEO and Managing Director said “completing the sale of G&S Engineering to DRA provides an enhanced focus on the Calibre and Diona businesses. We have sought to moderately deleverage the balance sheet with sale proceeds and provide greater working capital sources to Calibre.
“DRA and G&S have an established working relationship having jointly delivered the MACH Energy project in Mt Pleasant, NSW. As 100% owner of the Calibre DRA joint venture, DRA will take over full responsibility of finalising delivery this project.”
“Following the sale Calibre is now positioned as an engineering and construction management business predominately focused in delivering projects and services to the growing infrastructure and urban development sectors, and in the improving resources sector.”
DRA is a highly successful and credible diversified global engineering, project delivery and operations management group, with an impressive +30-year track record. Known for their collaborative approach and extensive experience in project origination and delivery, as well as turnkey operations and maintenance services, DRA delivers optimal solutions that are tailored to meet clients’ needs. With expertise in the areas of mining, mineral & metals processing, water, energy, and infrastructure, DRA delivers truly comprehensive solutions. With 16 global offices, DRA offers flexible engineering & operations management services worldwide.
INVESTOR AND MEDIA CONTACT:
Craig Allen, Calibre Group Limited
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