GCS upgrades and buys in WA
Global Construction Services has upgraded profit guidance alongside its acquisition of a leading provider of specialised labour hire in WA.
Global Construction Services announced on Wednesday morning it had acquired Global Industrial Services (GIS), a leading provider of specialised labour hire in Western Australia.
The $42 million acquisition will be funded through a mix of cash and the issue of shares. Management said GIS is expected to generate revenue of approximately $60 million and earnings before interest, tax, depreciation and amortisation of about $8.2 million in 2010-11.
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