Future of HMP Constructions
Possibly the best way to explain where HMP is headed in the near future is to simply compare truck numbers. Before the formation of HMP Constructions, the company had the following truck fleet: 4 x Cat 777s, 24 x Cat 785s, 9 x Cat 789s.
The new additions to the fleet of trucks were:
- 15 X CAT 785s (AN INCREASE OF 62%)
- 25 X CAT 789s (AN INCREASE OF 278%)
Coupled with the acquisition of related excavators, dozers, graders, water trucks and other support equipment a total of more than $250 million of capital equipment has been committed so far.
- Future Expansion
The owners of HMP are committed to the expansion of the business in order to meet the ever increasing demands of the resources industry. In December 2007, following the exit of Mizautani, the 2 owners contributed an additional $25 million of equity in order to give HMP a substantial basis to fund its future growth. The contribution increased shareholder equity to $30 million. In addition to this the owners have arranged financial facilities of approximately $200 million to find capital requirements.
The owners are also investigating avenues for further expansion by raising additional capital through a number of interested parties. These arrangemnets are expected to be finalised in the next 6 months and will further expand HMP's capabilities in the mining and civil market.