TR Corporation sells Minecom Business to Pyott-Boone Electronics

TR has sold its TR Minecom underground communications division to US electronics manufacturer Pyott-Boone Electronics for an undisclosed sum.

"This sale will create enormous opportunity for the Minecom business with an expanded range of mining safety products that will allow it to grow market share both in Australia and the international markets the business operates in," said David Gallagher, CEO of TR.

"Through the divestment of our manufacturing business, we can invest more heavily in our core business sectors of rental, calibration and service provision of electronic technology solutions in our key markets of Australia, New Zealand and Malaysia," said Gallagher. The company is backed by private equity firm Advent Private Capital.

PBE's relationship with TR Minecom started many years ago when the Virginia-based company became a major distributor for TR Minecom in the US. PBE is a manufacturer of electronics in primarily the mining safety area and has been supporting the coal industry in the US with innovative safety solutions for over 40 years. TR is a rental provider of test and measurement equipment, audiovisual equipment and two-way radio communications in Australia, New Zealand and Malaysia.

The combination of the two businesses makes a lot of sense, enabling PBE to continue its strategy of becoming a single source provider for safety, monitoring and communications systems to the global mining industry, said Stuart Champion de Crespigny, CEO of PBE.