Triyard Holdings acquires logistics and supply base for A$6.75m
It's beefing up its portfolio in Western Australia.
According to OCBC Investment Research, Triyards Holdings (Triyards) announced that it has purchased a well-sited logistics and supply base within the shipbuilding and marine-related belt of Western Australia (WA) for A$6.75m.
The base serves as a critical construction materials and equipment supply base to the offshore oil and gas developments operating off the coast of WA.
The waterfront site is also located near the port of Fremantle, WA’s largest and busiest general cargo port. The base is already income generating, and Triyards will benefit from the growing and logistics business.
Triyards’s ship repair business will also benefit from the volume of port and LNG activities in the area. Meanwhile, the acquisition will be funded via cash and issuance of new shares to the seller, Henderson Supply Base Pty Ltd.