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HomeMining Industry News Heavy Haulage Australia Up for Sale After Going Into Voluntary Admin

Heavy Haulage Australia Up for Sale After Going Into Voluntary Admin

Tuesday 30th of June 2015 11:49:57 AM



Heavy Haulage Australia (HHA) owned by TV identity Jon Kelly has gone into voluntary administration and administrators are advertising the business for sale.

Ferrier Hodgson partners Mr Brendan Richards, Mr John Lindholm, and Mr Tim Michael have been appointed Voluntary Administrators of the high-profile, heavy haulage logistics specialist.

HHA sold a 50% stake of the business to McAleese in November last year.

Established for over 15 years, HHA specialises in 4 to 8,000 tonne haulage movements for infrastructure, mining and special projects.

HHA was also a prominent sponsor of V8 Supercars and the subject of the 'Megatruckers' series featured on Foxtel's A&E Channel.

Mr Kelly has told Big Rigs it was not his decision to put the business into voluntary administration.

While it's too early to tell if there will be job losses, administrators Ferrier Hodgson are advertising the business, which has a group turnover of $50 million, for sale.

"Urgent expressions of interest are invited for the businesses and assets of Heavy Haulage Australia Pty Limited and associated entities (HHA) (Administrators Appointed)," the advert states.

Assets include a well-maintained fleet of about 55 prime movers, 120 heavy haulage trailers, 15 cranes and 45 pilot cars and light commercials.

Expressions of interest are to be lodged by 4pm Friday.

HHA has depots in Brisbane, Toowoomba, Beaudesert, Port Hedland, Perth and Darwin.

McAleese is now considering legal recourse from Jon Kelly.

"McAleese Group is considering its options for legal recourse against the vendor (and associated parties) of the company's shareholding in HHA Group, in connection with the sale process and conduct after that time," McAleese said in an ASX statement.

"In light of the sustained poor market conditions in the oil and gas and infrastructure sectors and HHA Group's inability to support the high fixed costs of its lease arrangements, McAleese Group concluded that further investment in HHA Group is unlikely to deliver an acceptable financial return and has withdrawn working captial support," the statement said.

McAleese now expects a $17million blow to it's financial results for this financial year relating to loans, accrued interest and other money owed from HHA Group to the company.

"HHA Group's debts are entirely non-recourse to McAleese Group and as a result the company does not consider that it has any further financial exposure relating to its investment in HHA Group."



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Heavy Haulage Australia Up for Sale After Going Into Voluntary Admin

Tuesday 30th of June 2015 11:49:57 AM

Heavy Haulage Australia (HHA) owned by TV identity Jon Kelly has gone into voluntary administration and administrators are advertising the business for sale. Ferrier Hodgson partners Mr Brendan Richards, Mr John Lindholm, and Mr Tim Michael have been appointed Voluntary Administrators of the ....


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