Australia-based Heatleys Expands
Australia-based Heatleys Expands
Jason Sandefur
Fastener and industrial products distributor Heatleys of Australia launched a national expansion strategy following its merger with Sydney-based Australian Safety Specialists. According to the West Australian, the merger will boost the group”s turnover by more than 30% to about $77 million and give it a network of branches.
Chairman Geoff Heatley said the company, founded in 1987, was looking at further acquisitions to boost sales to more than $115 million.
Heatley said listing the company on the Australian stock market was possible, though it was not something the company was actively pursuing.
In fiscal 2004 Heatleys reported a $1.38 million profit on sales of about $24 million. \ �2005 FastenerNews.com
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