DGL Group Limited (AU:DGL) has released an update.
DGL Group Limited has strategically acquired Australian Petro Chemical Storage, significantly enhancing their capacity for storing flammable chemicals in New Sydney, aiming to improve service offerings and achieve cost savings through operational efficiencies. The $5.5 million purchase is set to bolster DGL’s logistics and storage services by tapping into new markets and providing synergies with its existing tanker fleet. Funded by operating cash flows, the deal promises to be earnings accretive and offer material insurance savings by consolidating flammable material storage.
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