:: Hicom Set To Expand Into US and Europe Following Capital Injection

Hicom, an Australian-owned, diversified mining and mineral process equipment developer and manufacturer, today announced aggressive expansion plans to the US and Europe, to be funded by a Federal Government grant and a private equity investment through DB Capital Partners and CH Warman Group.

According to Chief Executive Officer of Hicom, Mr Ray Bridgewater, the expansion plans signify a new and exciting future for the company. "Hicom is now set to become one of Australia's most advanced engineering technology success stories. We are operating in the rapidly expanding future market of ultra-fine grinding (both wet and dry), and we shortly expect to finalise a commercial venture in the U.S. A to build a 110kw mill , classifier and controls, the demand for which has already been established in the very lucrative industrial minerals markets of the world."

In addition to being awarded a substantial $AUS12.5 million R&D grant from the Australian Government and further investment from CH Warman Group, The key focus of this grant being for the design and manufacture of a 1Mw mill and its sophisticated controls, a new Australian test plant and extensive customer testing, together with new commercial application software to be used as a selling tool for Hicom Technology.

Hicom's expansion plans will be funded by DB Capital Partners, the private equity arm of the Deutsche Bank Group, who will commit up to A$11.5 million in private equity funds to the company. The funding has been made on behalf of the NSW Local Government Superannuation Scheme's Regional Development Trust (RDT), a fund dedicated to investing in successful developing companies in regional NSW.

Ms Jenny Boddington, Director of DB Capital Partners, said that the decision to invest in Hicom came after thorough investigation of its technical and market opportunities, and extensive due diligence.

"We are very excited about the future for Hicom and look forward to working closely with the management team to rapidly expand the company's opportunities internationally," said Ms Boddington.

Winner of many Australian Engineering Awards, Hicom was originally established by the CH Warman Group, internationally renowned for developing innovative mineral and mining processing technologies.