Perth, Jan 11, 2008 AEST (ABN Newswire) - Construction services group Global Construction Services (ASX: GCS) is pleased to announce the launch of operations in the North West with the opening of a new business division in Karratha, Western Australia.
The new division will operate as GCS Northwest Pty Ltd, a subsidiary business to GCS Group.
GCS Group Managing Director Enzo Gullotti said the new division was part of the Company's organic growth strategy to expand the business into diversified markets. "As outlined in our Prospectus, our aim is to expand operations to new markets where we can bring the GCS model to bear," said Mr Gullotti.
"We believe the North West of Western Australia represents an extremely important target market for us as we seek to grow the business, particularly in the industrial and resources sector.
"By acquiring our own premises and establishing a local presence in the heart of the region, we now have excellent exposure to the numerous opportunities being created through the resources boom," he said.
GCS Northwest will be managed by Kieran Steadman, an executive with extensive knowledge of the North West construction services industry having lived and worked in the Karratha region for approximately 7 years.
He previously spent 10 years at PCH Group including 7 years as the Company's North West Manager in Karratha servicing the North West region.
Mr Gullotti said GCS was already tendering and pricing work in the region.
"We believe there are numerous opportunities for a Western Australian-operated business in the North West, particularly given that the majority of construction services companies in the region are now internationally owned," he said.
"We look forward to taking advantage of the current market opportunities and to building a strong and sizeable team in Karratha over the coming months."
GCS Group is forecasting a net profit of $8.2 million for FY08, equating to 12.5 cents per share.
GCS Group's strategy for growth is to focus primarily on servicing the West Australian construction industry. In addition, the Company intends to explore opportunities in new markets, diversify into related industries and industry sectors and acquire selected new businesses that create value for shareholders.
Contact
Enzo Gullotti
Tel: +61-8-9479-7990
Fax: +61-8-9479-7789
Web: www.gcs-group.net
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