MTQ

MTQ: Has agreed to purchase 100% of Binder Group for A$19.3m, which implies deal valuations of 3.1x P/B and 10.2x FYJun13 P/E. Binder specializes in pipe support and pipe suspension solutions for the oil and gas sector and operates a manufacturing facility in Perth. It also holds a 50% stake in an Indonesia company that runs another manufacturing facility in Jakarta. MTQ views the acquisition as an opportunity to increase the scope and sale of its core oilfield operations, by expanding the services and products offered, and enhancing the group’s effort in expanding into the growing Indonesian market.