Trailer Magazine

MaxiTRANS confirms sale of MTC

  • Posted on Tuesday 4th, December 2018.

The sale of MaxiTRANS’ 80 per cent shareholding in the MTC panel manufacturing business in China to Zhejiang Huazheng New Material is now complete.

MaxiTRANS said in a statement that it has received $7.7 million in cash from the sale. This is comprised of proceeds from the share sale plus the loan repayment from the minority shareholders, less China taxation paid.

“As part of the MaxiTRANS overall capital allocation strategy, MaxiTRANS believes that good opportunities exist in the short term to deploy the capital made available by this sale and improve returns on invested capital,” the trailer builder said. “MaxiTRANS confirms that it remains committed to its strategic initiative of growth in New Markets
by actively pursuing geographical expansion in both China and South East Asia.”

MaxiTRANS is one of Australia’s largest suppliers of truck and trailer parts to the road transport industry in Australia as well as one of the largest suppliers of locally manufactured, high quality heavy road transport trailer solutions, including trailer repairs and service, in Australia and New Zealand.

MaxiTRANS held its annual general meeting in October and shared its operational performance and strategic direction.

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