AIA Engineering’s wholly-owned subsidiary, Vega Industries (Middle East) FZC (Vega ME), has acquired an additional 14% stake in VEGA MPS PTY LIMITED (VMPS), Australia, for AUD 5,639,184. With this acquisition, Vega ME now holds 70% of VMPS, completing the share purchase agreement dated August 3, 2023.
Vega ME Increases Stake in VMPS
AIA Engineering announced that its wholly-owned subsidiary Vega Industries (Middle East) FZC (Vega ME), has further acquired an additional 14% stake in VEGA MPS PTY LIMITED (VMPS), Australia.
Transaction Details
The consideration for the additional stake is AUD 5,639,184. As of December 10, 2025, Vega ME has completed the acquisition of 70% shares of VMPS, in accordance with the Share Purchase and Shareholders’ Agreement dated August 3, 2023.
VMPS Business Overview
VMPS is involved in the business of design, supply of mining liners and other parts, process engineering, project management and quality control for the mineral processing industry. During fiscal year 2023-24, the whole business of Mining Products and Service Pty. Ltd., Australia (MPS) was transferred to VMPS.
VMPS Financials
Key financial figures for VMPS include:
- Turnover for FY 2024-25: 34.25 Mn AUD
- Profit for FY 2024-25: 5.92 Mn AUD
Acquisition Rationale
The acquisition is intended to strengthen AIA Engineering’s Mining Liner Business. VMPS is a New Company, to which the whole business of Mining Products and Service Pty. Ltd., Australia (MPS) has been transferred during the FY 2023-24.
Source: BSE