Monday, 10 November, 2014 - 13:42
Orbital in Remsafe acquisition
Engine technology developer Orbital Corporation has moved to acquire half of electrical product manufacturer REMSAFE from co-founder Nick Bertucci for $5 million.
REMSAFE is the remote isolation system designed and developed in Western Australia, initially for conveyors.
It is an automated system that, on command, allows a plant operator to isolate fixed equipment from its energy sources, verify the isolation and lockout to undertake tasks that require isolation for safety purposes. REMSAFE does away with the need for an isolation officer to attend switchrooms and substations to manually isolate equipment.
Engine technology developer Orbital Corporation has moved to acquire half of electrical product manufacturer REMSAFE from co-founder Nick Bertucci for $5 million.
Engine technology developer Orbital Corporation plans to raise $10 million via a convertible note issue to fund its acquisition of electrical product manufacturer REMSAFE.
As counter-intuitive as it may seem, listed automotive and aerospace equipment developer Orbital Corporation has made the first major move in its diversification strategy by buying a mine site safety product spun-out of a resources-focused electrical and engineering contractor.
Automotive and aerospace equipment developer Orbital Corporation’s majority owned mine site safety product Remsafe has secured a $2 million order from a major Western Australian iron ore mining company.
Technology developer and investor Orbital Corporation has reshaped its board as it implements a new growth strategy, adding investment banker John Poynton as a director and promoting experienced minerals executive John Welborn to chairman.
Name | Position | Year Started |
---|---|---|
Managing Director
|
2013 | |
Non-Executive Chair
|
2017 |
Name | Position | Year Started | Year Ended |
---|---|---|---|
General Manager
|
2016 | 2017 | |
Founder
|
2015 |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Orbital Corporation | Remsafe | Acquisition | $5.00m | >> |