Press release
Hills Enhances Access Equipment Product Range
The Chairman of Hills Industries, Ms Jennifer Hill-Ling, today announced that agreement had been reached with the owners of Alquip to acquire their business effective 1 January 2006.
Alquip is based in Toowoomba Queensland, and is a leading supplier of access equipment including scaffolding systems, trestles, planks, stairway access and access ramps that are hired and sold to building contractors. Hills are a leading supplier of access equipment including ladders, scaffolding and fall arrest devices to the Australian hardware, building and construction industries. Hills owns the leading ladder brands of Bailey, Ladderweld, Mote Kennett and Oldfields Ladders.
Ms Hill-Ling said that legislative changes in relation to working at heights has resulted in a shift in demand from traditional ladders to scaffolding and other access systems. The addition of the Alquip range will cement Hills position as the market leader in Australia for access equipment.
Ms Hill-Ling said that Alquip currently turns over in the order of $12M and that expansion plans had already been agreed to extend the offer around Australia. Ms Hill-Ling said that the acquisition will be earnings per share positive from day one.
J.H. HILL-LING
CHAIRMAN
14 December 2005
