13.08.2012

D&G enters administration

D&G Hoist and Crane Hire of Malaga, near Perth, Western Australia has entered administration.

The company which took over Verticon’s tower crane and hoist business in 2009 says that delays to major building projects in Perth and a weak construction market in Victoria helped cause its difficulties.

The company appointed Ferrier Hodgson on Friday and Martin Jones,
its Perth managing partner, will lead the administration. He says that he is confident that D&G can be rescued and that there should be no job losses among the 150 full-time staff.

Jones also said that he is in discussions with D&G's major shareholder, Singaporean heavy machinery group JP Nelson.

D&G Hoist & Crane Hire was founded in 1998 and used the $12 million acquisition of Verticon's Australian Crane and Hoist division to open up in the East. Managing director Gino DeCesare is quoted as saying: “The Verticon acquisition helped us because it allowed us to place cranes in other locations. It was really the recent downturn in Victoria and a delay in a number of large key projects in Western Australia that has affected our revenues and put us in this position."