NOVEMBER 2012: SALE OF GROUP’S OLDEST COMPANY: WESTERN POLES
The Ridolfo Group today announced the sale of the historic Western Poles Company – the Group’s first business founded nearly 60 years prior – to Pittsburgh-based Koppers Holdings Inc.
Sold for an undisclosed price, the terms of the sale include the whole wood pole production and delivery business operating from sites in Picton and Keysbrook. Sale also included yhr transfer of staff, business name and other associated assets. Koppers Wood Products Pty Ltd (a 100% owned subsidiary of Koppers Holdings Inc) will take over towards the end of November once final sale conditions are complete.
“Today’s announcement is one of mixed emotions for the Ridolfo Family, as the poles business was founded by my Father and has seen many highs and lows during that period” said Group Managing Director, Anthony Ridolfo. “However we are excited that the sale will now allow the Group to explore new opportunities to invest for future growth.”
The Western Poles business has enjoyed continued success in recent years with the introduction of its world first supply chain barcode technology and fire retardant coatings.
“The decision to sell was made much easier knowing that Koppers – whom we have worked closely with for many years – would be acquiring the business, ensuring a smooth transition. The business is an excellent fit for Koppers, with their long experience in the utility pole market in Australia and exporting overseas” Anthony continues. “I’m confident that they will carry the business forward to new heights.”