IDL 0.00% $1.27 industrea limited

acquisition

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    *DJ Industrea Buys Huddy's Mining Svcs Business For A$250M

    (MORE TO FOLLOW) Dow Jones Newswires
    February 28, 2008 02:13 ET (07:13 GMT)
    *DJ Industrea Issues 71M Shares To Huddy's Vendors At 52.9 Cents

    (MORE TO FOLLOW) Dow Jones Newswires
    February 28, 2008 02:16 ET (07:16 GMT)
    *DJ Industrea Sells A$75M Convertible Bonds

    (MORE TO FOLLOW) Dow Jones Newswires
    February 28, 2008 02:16 ET (07:16 GMT)
    *DJ Industrea Forecast FY Net Profit A$38M-A$40M

    (MORE TO FOLLOW) Dow Jones Newswires
    February 28, 2008 02:17 ET (07:17 GMT)
    DJ Industrea Buys Huddy's Mining Svcs Business For A$250M

    MELBOURNE (Dow Jones)--Mining services group Industrea Ltd. (IDL.AU) said Thursday it
    has purchased mining contractor Huddy's for A$250 million.
    Industrea said the consideration for the purchase is made up of A$187.5 million in cash
    and 62.5 million in shares.
    "The purchase of Huddy's has affirmed Industrea's strategy of growing
    shareholder value through the purchase of businesses that offer specialist knowledge,
    sustainable growth and recurring earnings," Chief Executive Robin Levison said in a
    statement.
    As part of the initial consideration the company will issue 71 million shares at 52.9
    cents a share.
    Industrea said the purchase would be earnings per share accretive immediately and that
    it now expects to post net profit for the year ending June 30 of between A$38 million and
    A$40 million, before amortization and accounting adjustments.

    -By Alex Wilson, Dow Jones Newswires; 61-3-9671-4313; [email protected]

    (END) Dow Jones Newswires
    February 28, 2008 02:36 ET (07:36 GMT)
    Copyright (c) 2008 Dow Jones & Company, Inc.

    Thursday 28 February 2008 18:36:02:230 AEST
 
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