JWH Group acquires Plunkett Homes

Western Australia's third largest building group, the JWH Group, has acquired the state's longest established housing company, Plunkett Homes.

JWH Group managing director Julian Walter said the acquisition, which takes effect from April 1, will deliver immediate benefits and synergies to both companies and their customers.

"JWH Group and Plunkett Homes enjoy very similar cultures and we share a strong commitment to our staff and to the community," he said.

"Plunkett Homes were established over 100 years ago and will remain a stand-alone business within the JWH Group of companies. Although there will be no operational changes, there will be opportunity for both groups to review each others best practices and share them.

"It's very much intended to retain the proud heritage and identity established by Thomas Scott Plunkett at the turn of the century."

The JWH Group employs 540 staff in WA, with a projected annual turnover of $360 million.
The group incorporates Oswald Homes, Residential Attitudes, Rural Building Company, In Vogue, Metro Style and WA Country Builders, and has offices in the Perth area and regional offices in Geraldton, Northam, Bunbury, Busselton and Albany.

Mr Walter has a long standing relationship with Plunkett Homes dating back to the 1970's when he was a marketing manager for the home builder.

Plunkett Homes managing director Tony Pritchett, who has been with the company for 20 years, will continue to lead the company, and Mr Walter will become a director of Plunkett Homes.

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M E D I A R E L E A S E
JWH GROUP ACQUIRES PLUNKETT HOMES
Western Australia's third largest building group, the JWH Group, has acquired
Western Australia's longest established housing company, Plunkett Homes.
JWH Group managing director Julian Walter said the acquisition, which takes effect
at the end of March 2006, will deliver immediate benefits and synergies to both
companies and their customers.
"JWH Group and Plunkett Homes enjoy very similar cultures and we share a strong
commitment to our staff and to the community. Plunkett Homes were established
over 100 years ago and will remain a stand-alone business within the JWH Group of
companies. Although there will be no operational changes, there will be opportunity
for both groups to review each others best practices and share them. "It's very much
intended to retain the proud heritage and identity established by Thomas Scott
Plunkett at the turn of the century" said Mr Walter.
The JWH Group employs 540 staff in Western Australia with a projected annual
turnover of $360 million. The JWH Group incorporates Oswald Homes, Residential
Attitudes, Rural Building Company, In Vogue, Metro Style and WA Country Builders,
and operates offices in the Perth metropolitan area and regional offices in Geraldton,
Northam, Bunbury, Busselton and Albany.
"All JWH companies operate independently. This ensures our customers enjoy the
speed and personal service they expect from a smaller builder, but with the added
security and purchasing power of one Australia's strongest building companies
behind them. It also allows us to differentiate our products and deliver to a broad
range of customers across different segments of the housing market" said Mr Walter.
"My association with Plunkett Homes goes back to when I was a marketing manager
there in the 1970's. Since founding the JWH Group, I have maintained a very good
relationship with the directors of Plunkett Homes and admired the way they ran their
business. With Plunkett Homes' directors Marcus Plunkett and Ray Warren electing
to retire from active involvement in the company, the opportunity to acquire Plunkett
Homes is a win/win situation for all parties" said Mr Walter.
Plunkett Homes managing director Tony Pritchett, who has been with the company
for 20 years, will continue to lead the company. Julian Walter becomes a director of
Plunkett Homes.
ENDS
For further information contact:
Julian Walter Tony Pritchett
0418 913914. 0412 637057