Page 8 - Australasian Paint & Panel Magazine Jan-Feb 2019

NEWS
8
PAINT&PANEL
JANUARY / FEBRUARY 2019
WWW.PAINTANDPANEL.COM.AU
AMA DEVELOPMENTS
BRIEFS
AMA GROUP HAS ANNOUNCED A NUMBER
of appointments. Andy Hopkins will be- come group chief executive officer, An- thony Day has joined the board as an independent non-executive director. Day was recently the CEO of Suncorp Group’s insurance operations.
AMA Group also announced a major share transaction in November 2018 which it says will support the foundations for the next phase of the company's growth. In an ASX announcement the group reported a placement of 10 million shares at 95.32c per share. It also reported that Australian- Super, Myer Family Investments and Col- inton Capital Partners were to acquire the entire share placement as well as a total of 62million shares from Malone, Hopkins and a number of members of the AMA Group management team. This will result in AustralianSuper becoming the largest
shareholder acquiring 9.67% of the issued capital. Colinton Capital Partners will ac- quire up to 2.23% and Myer Family Invest- ments up to 1.49%.
The participating members of the AMA Group management team have en- tered in escrow arrangements in relation to their retained shares.
Ray Malone has announced his inten- tion to transition from executive chairman to a non-executive director role over the next nine months. Simon Moore, senior partnerofColintonCapitalPartnershas been invited to join the AMA board of di- rectors and will act as deputy chairman.
Hopkins said: “AMA Group’s an- nouncements....mark the start of an ex- citing new period of growth for the com- pany’s operations. Ray, the panel repair business management team and I have shown our strong belief in the future prospects of the business by voluntarily entering into the escrow arrangements and we are buoyed by the decision of AustralianSuper, Myer Family Invest- ments and Colinton Capital Partners to support our strategy and the recent management and board changes with their substantial investment.”
SUNCORP IS FIRST THATCHAM ASSOCIATE
SUNCORP WILL BECOME THE FIRST EVER
Thatcham Research Global Associate – which provides the insurer access to Thatcham Research’s wealth of vehicle research, data and services.
Brett Wallace, EM Assessing & Repair Performance, Suncorp said: “Thatcham repair data helps to ensure that our customer’s vehicles are repaired in the most safe and efficient manner, so the decision to extend and strengthen our relationship with such a respected in- dustry body was an easy one and aligns 100% with Suncorp’s overarching re- pair strategy”.
Significant enhancements to the es- cribe platform enabling the positive iden- tification of ADAS technologies have al- ready been deployed this year, with further updates on the way in 2019.
2019 sees a number of significant enhancements to escribe.
CAPRICORN MUTUAL IN GLOBAL TOP 10
Capricorn Mutual, the risk protection mutual established for Capricorn Society Members, continues to grow and has become one of the world’s top ten fastest growing mutual organisations according to the International Cooperative and Mutual Insurance Federation (ICMIF).
Along with this leading global organisation’s top ten global ranking, Capricorn Mutual has also become the number one fastest growing mutual organisation in Australia according to the ICMIF.
Jim Glossat, CEO of Capricorn Risk said: “It’s no secret that Capricorn Mutual’s success has come from a commitment to looking after our members and the unique needs of the automotive
aftermarket. We are proud to have paid almost $50 million in claims in the past two years and are delighted that this has corresponded with such strong growth that has
now been recognised by the ICMIF as the fastest in Australia and top ten in
the world.” Glossat said.
OUT OF THE DARK
Out Of The Dark is the title of the Spies Hecker 2019 calendar. The twelve striking images all play on light and shadow. They were created by the Dutch photographic studio van der Vaart together with photographers from five countries and showcase exceptional painting and restoration work, all shot in the bodyshops in which they were restored.