Taggart will add extensive experience in coal preparation and diverse mineral and aggregate handling systems in North America, Africa, Australia and China to DRA’s mix. Founded in 1993, Taggart has long-standing relationships with leading mining houses and utility companies. In July 2013, Taggart Global, which was having financial difficulties, was acquired by Forge Group, an EPCM firm based in Perth, Australia, for $43 million plus a further $25 million of potential earn-out payments. Forge went into administration and, more recently, liquidation.
Going forward, DRA’s operations in the Americas, including its existing Canadian business, will be consolidated with Taggart to reflect the combined strength and diversity of both enterprises. DRA’s operations in the Americas will conduct business as DRA Taggart. The existing Taggart management group will remain with the company, and will share an equity stake in the newly formed DRA Taggart business.
“We are excited to partner with Taggart and accelerate their growth in the worldwide coal preparation and material handling markets,” said Paul Thomson, CEO DRA Group. “We are particularly attracted to Taggart’s ability to build and operate pollution control systems, coal preparation plants, mineral load-out facilities, and material handling facilities.”
“Our integration into the DRA Group provides us with a global platform from which we will both continue to serve our existing client base and also actively pursue opportunities to build and operate coal, metals and mineral processing and materials handling facilities,” said Richard L. McCormick Jr., chief executive officer of DRA Taggart.