MILCast to be sold
The Board of Murray Irrigation has announced that it will start the sale process for MILCast, a business division of the company, which is based in Finley, NSW.
Phil Snowden, Murray Irrigation chairman, says the decision aims to foster the future success of MILCast under the stewardship of a more suitable owner.
“As a precast concrete manufacturer, MILCast is fundamentally a production and sales business and after careful consideration, the Board has accepted that it would benefit from new owners who specialise in these areas.
“As a major employer in the Finley region, a key consideration for the Board was to ensure that this was the right move for the local community and the Murray Irrigation business.
“In this current climate of drought and ongoing difficult conditions, Murray Irrigation must focus on its core business of providing efficient and reliable water delivery, advocating for water resources and investing in agricultural growth for residents across our footprint,” he said.
CEO Phil Endley met this week with MILCast employees to advise them of the decision and talk through the next steps.
“The business will continue to operate as usual while the sale process takes place. There will be no immediate impact on employees.
“We commit to keeping them informed throughout this process and remain available to answer any questions they may have,” Phil concluded.
Over the next ten days, an Expression of Interest process for the sale of the business will commence. Potential purchasers who wish to register their interest should contact Mark Uebergang of Hensgen Partners on 0410 520 195.