News and press releases

Wilh. Wilhelmsen Holding ASA: Qube makes AUD 119 million strategic acquisition to drive further growth  

24.02.2012 (WWH IR )
Today, Qube Logistics announced that the group has reached a binding agreement to acquire Giacci Holdings Pty Limited (“Giacci”). Wilh. Wilhelmsen Holding ASA (WWH) is the second largest shareholder in Qube.

The Giacci group of companies is a well run, high quality business that operates nationally in Australia, with significant operations in Western Australia. Giacci has built its core business in the mining industry, specifically in mineral haulage and handling, providing mine to port solutions for the majority of its customers and in most instances, assuming full responsibility for the supply chain.

 “The acquisition will enable Qube to provide a complete mine to port logistics solution covering transport, stockpile management and stevedoring. This enhanced logistics capability should provide significant opportunities to expand the range of services offered by the Qube group,” says Maurice James, managing director of Qube.

Qube also released its results for the half year to 31 December 2011. The results showed a year-over-year increase in revenue of 37% and increase in EBITDA of 78%, both on a pro-forma basis. The equity market reacted positively to the results and the acquisition announcement, with Qube share price closing at AUD 1.63, up 8%.

The WWH cooperation with Qube started in 2007, when the Wilhelmsen group took an ownership stake in three joint-ventures being part of the then called Kaplan consortium, K-POAGS, K-NSS and K-AAT, with KW Auto included later. Following a share transaction effective 1 September 2011, WWH became the second largest shareholder in Qube with 88 million shares.


For further information, contact:
Åge S Holm, IRO    
tel: +47 67 58 41 95 (office)
      +47 900 87 670 (mob)

Benedicte Gude, group VP communication 
tel: +47 67 58 41 77 (office),
      +47 959 07 951 (mob)

 

Wilh. Wilhelmsen Holding ASA is a global maritime industry group focusing on shipping and integrated logistics services for cars and rolling cargo through its shareholding in Wilh. Wilhelmsen ASA. The group also occupies a leading position in the global maritime service industry through Wilhelmsen Maritime Services AS, delivering products and services to some 200 shipyards and 22 000 vessels annually. For more information, please visit www.wilhelmsen.com