NRW Holdings Announces mobile plant sale to Boggabri
- NRW Holdings (NWH) subsidiary, Golding Contractors, sells the majority of its major mining equipment to Boggabri Coal Operations (BCO) under contract
- Boggabri exercised its option to acquire the assets under a maintenance services and hire agreement with NWH for the Boggabri coal mine
- Golding will sell 38 major mobile mining assets to BCO by the end of the month and continue maintenance on these, alongside 50 other assets, onsite
- The move by BCO is pegged to reduce group pre-tax earnings by around $1.8 million per annum
- CEO Jules Pemberton says the transaction will reduce debt and increase return on capital
- NRW shares are trading 7.8 per cent higher at $1.67 apiece at 2:12 pm AEST
