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Calibre Group builds presence in high value resources sector, nears ASX listing

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Engineering firm Calibre Group (ASX: CGH) is leveraging its strong foothold in Australia’s resources sector to continue to expand its operations, with the company set to join the ranks of ASX listed companies at 12pm (AEST) tomorrow. 

This follows the completion of a successful IPO to raise up to A$75 million under which Calibre offered 46 million shares at A$1.63 each.

Calibre has designed and delivered some of Australia’s largest iron ore mine projects and has a strong foothold in Australia’s heavy haul rail sector. 

The company has been involved as engineering, procurement and construction management service provider in over 90% by distance of the more than 4,000 kilometres of Pilbara heavy haul rail projects available for study or delivery since 2005, and the study for a proposed new heavy haul rail line for an Australian coal project.

As a result, Calibre has close and longstanding relationships with Australia’s leading iron ore producers, Rio Tinto (ASX: RIO), BHP Billiton (ASX: BHP) and Fortescue Metals Group (ASX: FMG).

Calibre is also pursuing expansion in Australia’s coal sector and building on its existing offshore project presence.

During its 10 years in business, the company has achieved strong growth, delivering pro forma compound annual growth in EBITA of 6.9% between the 2009 and 2011 financial years.

Importantly, this growth is expected to be substantially higher at 49.8% for fiscal 2012.

 

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