ACQUISITION BY TAT HONG COMPLETED
14 October 2010: Tutt Bryant Group Limited was removed from the official list of ASX Limited from the close of trading, 14 October 2010. This follows the suspension from official quotation on 8 September 2010 as a result of the compulsory acquisition notice from Tat Hong International Pte Ltd.
Following the above process, Tutt Bryant Group Limited is now wholly owned by Tat Hong International Pte Ltd, itself a wholly owned subsidiary of Tat Hong Holdings Ltd.
About Tat Hong Holdings Ltd
Tat Hong Holdings Ltd is one of the largest crane companies in the world – # 1 in terms of fleet size of crawler cranes and # 8 in terms of aggregate tonnage1. In the Asia-Pacific region, it is arguably the largest crane company1, with its fleet size ranging from under 50 tonnes to 1,600 tonne cranes.
Established in Singapore in 1957, Tat Hong is principally engaged in four core business activities – distribution, crane rental, tower crane rental and general equipment rental. It serves diversified industries including infrastructure, oil & gas, mining, construction and engineering sectors, across Asia, Australia and China.
Tat Hong currently has a combined rental fleet of almost 1,200 mobile, crawler and tower cranes. The Group enjoys a number of exclusive distributorship agreements for cranes and other heavy equipment with companies such as Hitachi-Sumitomo, Sumitomo, Yanmar, Bomag, Kato, Mustang, Kawasaki, Mitsubishi and Linkbelt.
Through its Australian subsidiary, Tutt Bryant, Tat Hong has a leading and active position in three key business areas in the Australian market – equipment distribution, crane hire and haulage and general plant and equipment hire. Tutt Bryant continues to seek to extend its presence in Australia and increase its market share through organic growth and acquisitions of businesses that are complementary to the Group’s activities.
In China, the Group has aggressively expanded its presence in the tower crane rental industry through its associated tower crane manufacturer, Singapore-listed Yongmao Holdings Limited, as well as through its five tower crane rental subsidiaries
– Shanghai Tat Hong Equipment Rental Co., Ltd., Jiangsu Zheng He TatHong Equipment Rental Co., Ltd, China Nuclear Huaxing TatHong Machinery Construction Co., Ltd, Beijing Tat Hong Zhaomao Equipment Rental Co. Ltd and Si Chuan Tat Hong Yuan Zheng Machinery Construction Co., Ltd. Today, the Group has fortified its presence as Asia’s largest tower crane rental company in China based on aggregate tonne-metres owned2.
1 Source: International Cranes, IC50 Ranking, June 2010
2 Source: International Cranes, IC50 Towers Ranking, June 2010