Precision Buses and Bustech Pty Ltd have announced that they will merge, with the ownership of both being assumed by Fusion Capital Holdings.
While each organisation will continue to operate independently, strategic management and direction will be the responsibility of Fusion.
The two companies have been in partnership since 2016, and will draw upon their respective capacities to continue to apply for contracts such as the 10-year Adelaide Metro bus supply contract.
As Australian transport operators look to local bus manufacturers to fill contracts, an electric-drive train buses emerge as sustainable solution to transport, the combined companies hope to address these emerging opportunities.
In a statement, production output from the combined businesses will exceed 300 buses in the first year.
“This is an exciting time for both Precision Buses and Bustech. Combining these two businesses allows us to create a strong platform to collaborate with our combined suppliers and customers, to ensure we are developing product for the future of mobility in Australia,” said Christian Reynolds, managing director of Precision Buses.
Important in the merger was the retention of the Bustech brand identity, which had been built up since its foundation in 1998.
“When the opportunity to merge with Bustech arose, we jumped at it. Bustech has long been recognised as an innovator in the bus industry through the vision and foresight of Joe, Tony and Luke. They have created great brand equity over a number of years and we look forward to building on the fantastic platform that has been created,” said Mat Fitch, director of Fusion Capital.