Austin Engineering to buy Mainetec

Austin Engineering will expand its range of mining excavator buckets, purchasing the business of Mainetec for upwards of $19.6 million, funded through existing debt facilities.

Mainetec designs, builds and refurbishes mine buckets including the Hulk bucket range (pictured), and has significant overseas markets in the Americas which complement Austin’s own.

It also manufactures rope shovels and offers bucket repairs and spare parts.

Austin also plans to offer Mainetec’s high value dipper markets into its North and South American markets where there is a large dipper bucket market.

The Perth company will make a further three payments to the owners of Mainetec, which is expected to turn over $40 million in the first year under Austin ownership, depending on future performance.

Austin CEO David Singleton said the acquisition would deliver significant synergies through lower supply chain costs Austin is able to provide.

Singleton said: “The key benefits of this acquisition for Austin are the ability to expand our mining bucket offering in Australia and then to offer that into our markets around the world.

“Mainetec is a technology led business that has developed the Hulk range of buckets suited to demanding applications and has also become a key supplier in Australia of dipper buckets used on rope shovels.”

Dipper buckets are typically the largest used in the mining industry.

Singleton said Mainetec’s presence on the east coast would support the company’s re-energised activities in the region.

Recently Austin centralised its manufacturing in Australia to a single site at Henderson, Perth.

Picture: Mainetec/Hulk bucket

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