Sale of John Holland Aviation Services’ assets?
JOHN HOLLAND Aviation Services’ (JHAS) has begun progressively winding back operations at its Melbourne base due to current market conditions and is investigating the possible sale of its Tullamarine facility.
John Holland Group managing director, Glenn Palin, said the decision was consistent with the owning Leighton Group’s strategy to stabilise, rebase and then grow, a key element of which is the recycling of capital from non-core assets.
“After owning JHAS for seven years, we are focusing John Holland on our infrastructure, rail and specialist engineering capabilities,” Mr Palin said.
“We continue to perform well in our key domestic and international operations in tunnelling, water treatment and distribution, heavy marine structures, power transmission, rail and transport concessions. We have internationally recognised specialist engineering capabilities that we are exporting to a number of overseas markets.”
Mr Palin said early interest had been shown in the business.
“A number of potential purchasers have previously expressed interest in various parts of our business,” he said. “Any sale price realised is unlikely to be material to Leighton Holdings and we expect to exit the business by the middle of 2014.
“I would like to thank all employees of JHAS for their valuable contribution,” he added.