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Successful sale of Tieman Tanker, Services and Tail Lift divisions

The Administrators of Tieman Industries Pty Ltd (Administrators Appointed) (the ‘Company’) are pleased to announce the sale of all three of the Company’s divisions following a public sale campaign.

Insights Successful sale of Tieman Tanker, Services and Tail Lift divisions
Friday, 4 September 2015
The Company’s Tanker division was sold to Third Zeton Pty Limited, a company controlled by the Tieman Family on Friday 28 August 2015 that resulted in the ongoing employment of 85 staff and assumption of all employee entitlements.

Following the termination of all Services and Tail Lift staff, the Administrators were also able to secure the sale of certain assets of the Services and Tail Lift divisions to Wastech Field Service Pty Ltd on Thursday 3 September. The sale of the Services and Tail Lift divisions to Wastech will ensure ongoing supply and support to the Australian materials handling sector.

Administrator Rahul Goyal from KordaMentha said “The sale of all three of the Company’s divisions is an outstanding result for the employees, customers and suppliers of Tieman. The aggressive sale time table pursued by the Administrators preserved the value of the business and maximised sale proceeds”.

All customer enquiries should now be directed to the relevant purchasers.

Media enquiries should be directed to Mike Smith - 0411 055 306.