Warsaw-listed international group Kopex SA – ZZM division purchased the floundering Waratah from the administrator KordaMentha, after the company entered voluntary administration in July.
Kopex Australia director and Waratah chairman Alan Broome said the buyout presented a platform for significant local and international expansion opportunities.
“Kopex is a shareholder in Inbye Mining Services, which already has a significant presence in the Australian longwall mining sector,” Broome said.
“Waratah Engineering provides the necessary engineering infrastructure and customer base that will allow us to expand into other coal mining sectors.
“We also believe the Waracar developed by Waratah has enormous potential to be distributed across international markets like South Africa, Russia and China.
“Kopex will invest several million dollars to strengthen the company, which will allow the business to reach its true potential, secure the existing workforce and create additional jobs.”
Heading up the company will be chief executive Phil Kirwan-Hamilton, chief operating officer Mark Jones, chief financial officer David King, and sales and marketing manager Mark Kingshott.
