Queensland Business News Gold Coast Business News Brisbane Legal BNP Media Brisbane Business News   Tell a Friend Login Create an Account
Gold Coast Business News

WRIGHT DIGGING NEW DEAL

< Previous Next >

By Tom Reid
12 Jul, 2010

IN a move that will bolster confidence for local manufacturers, Digga Australia will relocate its latest Sydney acquisition to the company’s Yatala headquarters this month.

Earthmoving equipment manufacturer Digga has bought Peakhurst-based Universal Augers Australia off its UK parent company Universal Augers International in an undisclosed deal and expects to double turnover within two years.

The UK operation is one of the world’s leading suppliers of foundation drilling tools and accessories, servicing Europe, the Middle-East, Asia and the now Digga-owned Australian arm.

Digga CEO Suzie Wright (pictured) says the acquisition completes the company’s product range and strengthens the company’s operations in both Australia and Europe.

“The merge provides Digga the opportunity to now offer a fully comprehensive range of products and, with the new on-road network of Digga service trucks, means our clients can go to one company for all their required products and service back-ups,” says Wright.

“We’re very hopeful that coupled with Digga’s larger gearboxes, we can double the revenues of Universal Augers within two years. The UK operations of Digga and Universal Augers will also work together, with Universal focusing more on the UK, and Digga the rest of Europe.”

Wright had been in negotiation with Universal Augers for three years and says the two companies have a long history together.

“Universal Augers was formerly Pengo Australia – the company that Digga originally broke away from and went into competition with,” she says.

“For years they were in direct competition with us, however over the last 12 months they focused on importing the large foundation tools that the UK parent specialises in. They have a niche market for those products whereas Digga specialises in the small to mid-sized drilling attachments. The opportunity to offer these foundation drilling products from Digga’s Yatala operation really heightened my desire to purchase the company.”

Wright forecasts 35-45 per cent growth in Digga’s revenue, currently around $45 million per year. Universal Augers pre-takeover annual revenues were around $1.5 million.

Digga has undergone rapid expansion over the last 18 months, having acquired Kanga Loaders in early 2009 and moving the manufacturing of the mini diggers and loaders to its Queensland factory.


< Previous Next >

Other Recent Articles

BANKING ON BIG EARNERS SURVEY: HAVE YOUR SAY
BRISBANE AWARDED FIRST LIGHT RAIL CONTRACTS
PATENT BOOST FOR MEDIGARD
BEST WEB SERVICES REVEALED
COMMERCE QUEENSLAND CALLS FOR SIX MONTH RATES STAY

FOLLOW GOLD COAST BUSINESS NEWS follow Gold Coast Business News the way you want
SEARCH ARTICLES
GOLD COAST WEATHER
Partly Cloudy
Partly Cloudy

gold coast Currently:

19° H:23°
L:17°
GOLD COAST EVENTS
November Sunrise Golf Wed 05 November 2014

What a fantastic way to start the day!

Join in for a leisurely 9 holes before the working day starts.

  • Don't m

November Twilight Evening Wed 12 November 2014

Step off the busy Broadbeach streets and into the ambience of Mecaa Bah to join us in an evening of exceptional networking while you watch the ch

Paying It Forward: Charity Luncheon Fri 14 November 2014

Save This Date to "Pay Forward"

When: Friday 14 November, 2014 @ 12:30 pm 

View all events
 
 
website design and content management system by Bloomtools