Pit N Portal Sale To Emeco Complete

Mining services provider Pit N Portal has now officially merged with Emeco. A deal that was previously announced but confirmed today.

According to Emeco Managing Director and CEO Mr Ian Testrow “Pit N Portal has a highly complementary business model which provides a comprehensive hard rock underground equipment services offering and more than doubles our gold exposure. Diversifying our range of value added services is also exciting, as we become more embedded with our customers and secure longer tenured contracts”.

In a LinkedIn post Managing Director Steve Versteegen said

“We are very pleased to advise that we completed the merger with Emeco today and we are now officially part of the Emeco family. As a company, we are excited about the opportunities that this merger will bring and confident that the combined company will accelerate the growth of the Pit N Portal business”

Fellow Pit N Portal Director Ian Barnard will be leaving after 17 ½ years.

Emeco today also issued 4,830,918 fully paid ordinary shares to the vendors as part of the deal.

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