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AusGroup solicits offers for its scaffolding and access business

Thursday, February 18, 2016 - 19:12

MARINE and offshore engineering firm AusGroup said it was beginning a process to solicit and consider offers for its scaffolding and access business, subject to approval by the board.

This was in response to a number of expressions of interest from third parties, it said.

This business segment provides scaffolding and associated services for construction and maintenance activities in the resources, oil and gas, infrastructure and industrial sectors.

If a disposal is made, the group will retain its existing fabrication and manufacturing, project and maintenance services, and port and marine services, AusGroup said.

The company also said that it was restructuring its engineering services unit and making some managerial changes.

AusGroup closed trading at S$0.104, up S$0.001 or one per cent before its latest announcements.

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