Mincon Group Plc Acquisition of Pacific Bit of Canada (5482M)
January 09 2019 - 1:00AM
UK Regulatory
TIDMMCON
RNS Number : 5482M
Mincon Group Plc
09 January 2019
Mincon Group plc
Acquisition of Pacific Bit of Canada Inc.
Mincon Group plc (ESM: MIO AIM:MCON), the Irish engineering
group specialising in the design, manufacture, sale and servicing
of rock drilling tools and associated products, advises that it has
contracted to acquire the share capital of Pacific Bit of Canada
Inc.
Mincon Group plc - Acquisition of Pacific Bit of Canada Inc.
Mincon has contracted to acquire Pacific Bit of Canada Inc., a
distribution company based in Vancouver, Canada. A long established
and successful business, Pacific Bit distributes mainly mining and
construction products in Western Canada. Sales in 2018 were c.
C$5.5 million and the business was profitable.
The Pacific Bit team is staying in place to develop the business
with the North American team of Mincon, to build revenue and
distribution in the coming years and we are pleased to welcome them
to the Group. We believe this is an important building block in
developing the Group sales into the Canadian market with an
excellent local team.
Further
We are prepared to discuss acquisition, partnership and
investment with other businesses in suitable geographic territories
and relationships, for our key and ancillary products.
ENDS
For further information, please contact:
Mincon Group plc
Joe Purcell - Chief Executive Officer Tel: +353 (61) 361 099
Peter E. Lynch - Chief Operating Officer
Davy Corporate Finance (Nominated Adviser and ESM Adviser)
Anthony Farrell Tel: +353 (1) 679 6363
Daragh O'Reilly
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END
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