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Military grade tech company on track to list on the ASX
- Published November 07, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
For years militaries and resource companies have encountered the problem of moving heavy vehicles and equipment through inhospitable environments.
Historically this problem has been overcome by building expensive, time consuming, and environmentally damaging roads.
However a new solution was developed in conjunction with US Army Corp engineers, mats. While matting is already used at worldwide events, it is particularly useful for military solutions and mining companies.
This system of matting could be laid, removed and reused in the most inaccessible areas. Matting allows quick access at the fraction of the cost that a paved road would.
Indonesia’s resources are plentiful and global mining companies regularly rank Indonesia highly in terms of coal and mineral prospectivity.
The continent is a major producer of copper, nickel and gold. However, a major issue with greenfield projects in Indonesia is accessibility due to severe weather conditions and climate.
Since 2002, Australian company SAPEX Group Limited, has been using a commercial matting system that mining and resource companies can use to drive thousands of tonnes of machinery across instead of building paved roads.
SAPEX has an exclusive license and distribution agreement in Indonesia with the manufacturer, Newpark Resources Inc. Their clients include major names such as: Chevron, Exxon-Mobil and Newcrest Mining to name a few.
These mats act as a substitute to building roads and are designed to withstand challenging conditions.
Leased out at $5-8 per day, distribution of the matting system has become highly profitable and a key driving force behind SAPEX Group’s expansion and planned acquisition of SAS as a natural growth progression.
On completion of the current PT SAS acquisition, SAPEX will have consolidated the entire DURA-BASE mat inventory within Indonesia, as part of their transition from an agency business model towards an owner and operator model.
PT SAS has acted as the Indonesian agent for the DURA-BASE matting business since 2002 and has generated in excess of AU$20 million in revenue from the mats since 2015.
On 24th September, it was announced that SAPEX Group had determined that an ASX listing is to be pursued, with a target completion date of late Q4 2018.
Interested in Sapex and want to find out more about their current investment offering – get in touch here.
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