Murray & Roberts Announces The Disposal Of Its Interest In Insig Technologies
Murray & Roberts Announces The Disposal Of Its Interest In Insig Technologies. Murray & Roberts has announced that through its wholly owned subsidiary Murray &Roberts United Kingdom Ltd (“MRUK”), it has entered into a Share Sale Agreement with the AvidSysGroup (“AVID”), in terms of which MRUK will dispose of its 65% shareholding in InsigTechnologies Pty Ltd (“Insig”) for A$1m.
Murray & Roberts has over the past few years developed Insig from a small technology company into a mining technology solutions provider. Insig requires further investment to support its growth trajectory, which AVID will provide and Murray & Roberts’ multinational Mining platform will continue to make use of services provided by Insig.
Insig is a Perth based Australian mining technology company, focused on developing mine automation services, providing sensor, software, and autonomous solutions by using equipment and personnel tracking for improving efficiency and quality across the mining valuechain. AVID is an international group based in Perth, Australia. With a presence in Australia and India, AVID operates across several market sectors, including the metals and mining industry. The Beneficial owners of AVID are the Gautam family. AVID is experienced in technology development, product innovation and mining services,mining and construction infrastructure development.
The acquisition supports its strategy to develop a vertically and horizontally integrated business with investments in mining, raw material processing, construction, mining services, renewable energy – green hydrogen and infrastructure development.
