Industrea has been awarded the exclusive agency for the sale and service of US-based Petitto underground mining equipment and parts in Australia, New Zealand, China, and Mongolia.
Petitto Mine Equipment Inc. is a specialised manufacturer of electrically powered longwall equipment and installation and removal machines with significant numbers of Petitto Mules, Pack Mules and Mule Haul machines already operating in Australia.
Petitto has recently developed a new machine capable of lifting and carrying longwall equipment up to 50 tons.
There are significant opportunities for the sale of this larger machine in Australia and China as longwall equipment gets bigger and heavier.
Robin Levison, managing director and chief executive of Industrea said being awarded an agency as prestigious as Petitto against stiff competition was a measure of the recognition of Industrea as a major force in the mining supply business in Australia and the world.
“Such an exclusive agency can be the equivalent of acquiring a whole new profitable business but at no capital cost,” Levison said.
The agency will be managed by P.J.Berriman & Company (PJB), an Industrea subsidiary.
PJB has had many years of experience in the servicing and maintenance of Petitto equipment.
The winning of the Petitto agency follows last month’s announcement by IDL it had acquired Boart Longyear’s mining capital equipment business for $10m as it accelerated the expansion of its core area of mining products and services.
The Boart Longyear business, which has a record of sustained profitability for more than two decades and strong cashflow, will be coupled with PJB Ltd (PJB) business to form a $50m mining capital division.