RMG purchase on hold

RMG announced the acquisition of TCM in Australia, and sister companies in Hong Kong, China and Sri Lanka, in July, as part of its ongoing acquisition programme.

But the company now says there are "complexities involving the acquisitions within previously agreed timeframes" and TCM will continue to operate as an independent company.

RMG says work will continue to ensure an appropriate and seamless transition at a later stage.

The company's CEO, Paul Cooney, says the management of both companies are committed to the ongoing development of the alliance and the strengthening of business ties.

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