BAE SYSTEMS COMPLETES ACQUISITION OF TENIX TOLL DEFENCE LOGISITICS

BAE SYSTEMS COMPLETES ACQUISITION OF TENIX TOLL DEFENCE LOGISITICS

22 Dec 2008 | Ref. 301/2008

ADELAIDE, South Australia - BAE Systems has completed its acquisition from Tenix Pty Limited (“Tenix”) of 100% of Tenix Toll Defence Logistics Pty Limited (TTDL), formerly a joint venture company of Tenix and Toll Holdings Limited, for A$24 million in cash, after receiving all required approvals.

TTDL manages the Defence Integrated Distribution System (DIDS) contract which provides warehousing, maintenance and distribution services to the Australian Defence Force (ADF). TTDL has approximately 1,000 employees deployed across more than 20 sites and will be integrated within BAE Systems Australia’s Land Business Unit.

The acquisition expands BAE Systems Australia’s operations significantly and will take employee numbers in excess of 6,500.

Jim McDowell, Chief Executive of BAE Systems Australia, said, “The acquisition of TTDL adds great value to our company and what we offer our major customer.The DIDS contract provides a strong basis on which BAE Systems can work with the ADF to improve the effectiveness and efficiency of its logistics services.”
In June 2008 BAE Systems completed the acquisition of Tenix Defence. This acquisition significantly enhanced the depth and breadth of the company’s capabilities in Australia and made BAE Systems Australia the largest in-country supplier to the ADF.

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