11.04.2007

Boom Logistics buys D&D

Australian crane rental company, Boom Logistics has acquired Wollongong, based D&D Crane Hire for A$4.3 million ($3.5/£1.8million). D&D has 11 cranes and revenues in the region of A$4 million ($3.3£1.7million).

Boom’s chief executive elect Mark Lawrence said that the additional assets will provide capacity for further organic growth in the New South Wales market.

Boom Logistics operates around 550 cranes from 53 locations across Australia,

The D&D fleet of cranes will be moved to Boom's Port Kembla depot, to serve customers such as ASMS, Integral Energy, United Group, and Sydney Water in addition to BlueScope Steel for a major project at the local steel works.

All D&D employees will be retained and transferred to Boom Logistics payroll.

Boom Logistics has also warned that its second half earnings are likely to be negatively impacted by extreme weather in the West Australian Pilbara and Central Queensland regions.

The protracted and stronger than usual cyclonic activity and flooding in these regions in February and March has apparently impacted crane operations, with businesses in the Pilbara region closed down for 14 working days due to three consecutive cyclones.

While the Central Queensland region operations were closed at various sites for 14 to 19 working days as a result of flooding.