Richard Ellis - Credit Fitzroy Engineering
As of 1 December 2010 Peter White-Robinson has signed a conditional sale and purchase agreement to sell his shares in Fitzroy Engineering, Fitzroy Engineering Australia and his shareholding in Fineline Services to Dialog Group Berhad of Malaysia (90%) with current Fitzroy Engineering Group Managing Director Richard Ellis owning 10%. Peter White-Robinson will stay on as chairman.
Fitzroy Engineering was established in the late 1950’s and Peter has been the sole owner since 1992. Under Peter’s guidance and wealth of engineering and business experience the company has grown dramatically to be one of New Zealand’s largest heavy fabrication and multi-disciplined companies, attracting key maintenance contracts, and key involvement in some tremendously exciting engineering accomplishments.
Dialog Group Berhad was founded in 1984 and has grown into one of Malaysia’s leading integrated specialist technical services providers to the oil, gas and petrochemical industry.
Dialog Group Berhad’s services encompass activities in:
•Logistic Services – Tank Terminals & Supply Base
•Specialist Products and Services
•Catalyst Handling Services
•Plant Maintenance
•Engineering & Construction
•Fabrication
•ePayment Technology & Solutions
Dialog Group Berhad is listed on the Main Board of the Malaysian stock exchange and reports 2010 revenue of approx $NZ 474m. Dialog currently employees approximately 1600 people and the Fitzroy Engineering acquisition will bring that number to over 2000.
Based in Kuala Lumpur, with offices and facilities in Malaysia, Singapore, Thailand, Indonesia, Vietnam, China, Hong Kong, Australia, Saudi Arabia, United Kingdom and USA, Dialog Group Berhad has business interests and customers throughout the Asia Pacific region, the Middle East, Europe, Africa, USA and South America.
Peter White-Robinson - Credit Fitzroy Engineering
The Fitzroy Engineering sale to Dialog Group Berhad is a fantastic opportunity to strengthen and grow the Fitzroy brand, and Peter is immensely proud that the company will continue to move forward under the Dialog group of companies. Dialog are a very similar company to Fitzroy Engineering in that they are heavily involved in the hydrocarbons engineering sector, and have maintenance, construction and fabrication divisions. Dialog sees Fitzroy Engineering as being a leader in heavy fabrication with a very good reputation in the Australasian market, and able to enhance the Dialog maintenance and construction divisions. Dialog have a very strong forward order book and are looking to Fitzroy Engineering to support the execution of this workload.
The sale becomes unconditional on 31st March 2011 and from a practical perspective it is business as usual for everyone at Fitzroy Engineering.
“This is an absolute win win situation,” “The sale will secure both the future of the business and the jobs of our 400-strong workforce.” explains Fitzroy Yachts’ owner, Peter White-Robinson.
The sale also provides resources for Fitzroy Yachts to further develop its strong order book which extends into 2012 including a 50m flybridge sloop superyacht designed by Ed Dubois and a 40m sailing yacht designed by Dick Young.
