In a strategic move, GR Engineering Services Limited (ASX: GNG) has announced that its subsidiary, Mipac Holdings Pty Ltd (Mipac), is set to acquire Paradigm Engineers Pty Ltd (Paradigm), a Western Australia-based provider of control systems, electrical engineering, and automation services. The acquisition, valued at $9 million, aims to enhance Mipac's capabilities in control system design, particularly in the iron ore sector, and extend its footprint in Western Australia.
The acquisition underscores Mipac's commitment to innovation in control systems, aligning with industry trends mandating technology adoption for optimized operational performance. The transaction is expected to be completed around February 29, 2024, with Paradigm's Managing Director expressing excitement about the opportunities for growth in operational technology and digital solutions on a national and international scale within the mining and mineral processing industries.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
