Northpower Ltd purchases contracting company

Tuesday 5th June 2007

Northpower Ltd purchases Perth based electrical contracting company

Northland owned and operated Northpower Ltd, announced today that it has purchased West Coast Energy, an emerging Perth based electrical contracting company.

Chief Executive Mark Gatland is optimistic about the opportunities available for Northpower as it expands into the Western Australian market.

“We have been looking for a company that would provide us with an opportunity to penetrate the Australian market. With West Coast Energy we have acquired a small contracting business that has strong business links to electrical design companies and developers” he said.

Gatland also stressed that this opportunity would compliment the company’s existing New Zealand operations.

“This will enable Northpower to use existing skills in new markets which will further develop our capabilities and improve overall company performance,” he said.

The market in Perth is large, with approximately AUS $4.2 billion of capital expenditure planned by the State owned electricity network company Western Power, over the next five years. In addition, subdivisions and other works are estimated at AUS $110 million per annum.

“Northpower will continue to progress towards our goal of building a substantial, profitable business that provides a safe, reliable, hassle free service to our customers. We will grow the business in Western Australia by carrying over this philosophy to our new customers. It is important that we maintain this business ethic, where ever we are,” Gatland said.

Northpower Ltd owns and operates the Whangarei and Kaipara electricity distribution network from Topuni in the south to Hukerenui in the north, with over 50,000 connected customers and an asset value of $200 million. The company also has an expansive contracting arm which this year became the largest electricity distribution contractor in New Zealand. Northpower employs over 700 staff across ten locations throughout the North Island.

ENDS

© Scoop Media