As of July 20, HBT entered into a Share Purchase Agreement to procure Australia-based coal equipment company Waratah Engineering from Questas Group. Waratah is well known for remanufacturing of longwall roof supports, plus overhauls of continuous miners and roadheaders, as well as producing its own equipment such as the WaraCar shuttle car and WaraBolter. The company’s facilities are in Argenton near Newcastle, NSW.
This acquisition marks a significant milestone for HBT as we continue to build and develop our distribution capabilities, whilst enhancing our product portfolio, further enabling us to diversify and expand into other markets.
Waratah is a historic company and was founded as far back as 1923. Looking at its recent history, it was saved from bankruptcy in 2009 when it was bought by Polish coal mining equipment major Kopex and renamed Kopex Waratah, with Kopex going on to become part of Famur in 2017. In 2016 Waratah had been acquired from Kopex by Swanson Industries Australia (formerly Jarvie Engineering founded in 1952 which was acquired by Swanson in 2014), which became part of Questas Group in 2020.
The HBT group was purposefully chosen by Questas with the intention that the natural ownership and growth of Waratah Engineering continues. HBT will continue to create value and drive results, whilst maintaining the current strong position Waratah Engineering holds in the market.
The Waratah Engineering portfolio complements the existing HBT product offerings and will further strengthen the global capability as a single solution provider.
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