Tank Solutions

Aquisition of Alminco Composites Business

Jennifer Davies — Mon, 17 Sep 2012 04:49:40 +0000

Following the acquisition of the Alminco composites business back in 2010, Tank Solutions have transferred the manufacturing equipment to their new workshop facilities in Tomago, NSW. This acquisition further increases the tank range that Tank Solutions is able to offer.

Tank Solutions now manufacture fibreglass horizontal and vertical underground and onground tanks for fuel, chemicals, water and waste as well as horizontal and vertical onground steel tanks in single and double wall as well as steel silos and Glasteel® horizontal underground fuel tanks.

Tank Solutions to Manufacture and Market Mullay Pump and Lift Stations

Jennifer Davies — Mon, 17 Sep 2012 04:49:26 +0000

Tank Solutions in conjunction with Mullaly Engineering will manufacture and market the full range of Mullaly Sewage Pump and Lift Stations. Because they have a reputation for quality and reliability they are specified by a number of councils.

Mullaly Pump and Lift Stations are available in a variety of diameters and lengths to suit most requirements they can be fitted with pumps, pipes and valves in accordance with individual location design needs.

Tank Solutions Restructures

Jennifer Davies — Mon, 17 Sep 2012 04:47:51 +0000

As you are no doubt aware from previous correspondence, we have a new location with two new ultra-modern workshops at Tomago NSW.

With our new premises and our plans for future growth we felt that the existing names did not really convey to our customers and the market, the range of solutions that we can provide in the manufacture of:

Steel Tanks / Steel Container Tanks / Self Bunded Wrap Tank / Jacketed (Glasteel) Tanks / Fireguard Tanks / Fibreglass Tanks

Our new name: “TANK SOLUTIONS PTY LTD” encompasses all types of tanks and emphasises the range of solutions that we provide.

Our key management team remains the same.

The new structure will facilitate future growth through the development of new products and the building of specialised skills.

Tank Solutions is thankful for the support of our customers over the past ten years and looks forward to providing quality innovative

storage solutions for the future.

Ethanol In FRP Tanks Manufactured Pre March 2003

Jennifer Davies — Wed, 21 Jul 2010 00:01:59 +0000

Questions have been asked regarding the suitability of FRP tanks built to originally to take unleaded fuel to handle ethanol blends.

The information that we have from our resin suppliers is that these tanks are capable to handle 10% ethanol blends subject to 1]the blend not containing more than 10% ethanol and 2] that there is no phase separation in the tank due to a high water content.

There is a possibility that ethanol blends over 10% and phase seperation will soften the resin in these FRP tanks which could lead to failure.

We have attached information below regarding this issue.

phase-separation-effect-in-ethanol-containing-petrol

the-use-of-frp-with-alcohol-containing-fuels

Quality Accreditation

Jennifer Davies — Wed, 15 Apr 2009 04:21:19 +0000

FTS has successfully completed an audit for its ISO 9001 Quality Accreditation. The audit was conducted by SAI Global with a Senior Executive of a major Australian Oil Company monitoring the procedures as well as contributing to the discussions as a guest member of the audit team.

ISO 9001 ensurses the maintainance of quality in all areas of manufacture of steel and fibreglass tanks as well as promoting improvement and innovation.

Investment Allowance

Jennifer Davies — Sun, 11 Jan 2009 21:15:16 +0000

TEMPORARY INVESTMENT ALLOWANCE TO BOOST BUSINESS INVESTMENT

On December 12th 2008 the Rudd Government announced further actions to boost economic activity and support jobs with a 10 per cent temporary investment allowance - in the form of an additional tax deduction - designed to encourage important capital investment by Australian businesses. The legislation is expected to be introduced into Parliament in February.

The allowance will be in the form of an additional tax deduction equal to 10 per cent of the cost of an eligible asset. The allowance will be applicable to most new tangible depreciating assets - which includes most items of plant and equipment - over $10,000 which are acquired or ordered by the end of the current financial year ie 30 June 2009.

This means a business can receive an additional 10 per cent tax deduction available immediately - for investment brought forward and in place by 30 June 2010. In practical terms, this is an added incentive for businesses to proceed with their investment plans in this difficult environment.

The investment allowance will be available for businesses who start to hold or start to construct the asset after 12.01am AEDT 13 December 2008 and before the end of June 2009. Assets must be ready for use by the end of June 2010.

Investment Allowance - Detailed Information

The investment allowance will apply from 12.01am AEDT 13 December 2008 until the end of 30 June 2009. To be eligible for the investment allowance, a taxpayer must start to hold the asset under a contract entered into between those times, or start to construct the asset between those times. Assets must also be installed ready for use by the end of 30 June 2010.

The investment allowance will be confined to new assets and new expenditure on existing assets, used in Australia. Assets that have previously been used or held for use will be excluded.

The investment allowance will apply to tangible assets used in carrying on a business, for which a deduction is available under the core provisions of Division 40 (Capital Allowances) in the Income Tax Assessment Act 1997 (ITAA97) - specifically depreciating assets under section 40-30 that qualify for capital allowances under Subdivision 40-B, except for intangibles and rights that would otherwise be included by subsections 40-30(2), (5) and (6). Cars will not be disqualified from the allowance merely because they use the 12 per cent method.

Land and trading stock are excluded from the definition of depreciating assets, and will not qualify for the investment allowance.

Assets to which Division 40 does not apply will not qualify for the investment allowance. This means capital works for which you can deduct amounts under Division 43 of the ITAA97 will not qualify for the investment allowance.

Assets for which deductions can be obtained under other Subdivisions will not qualify for the investment allowance. These assets are already subject to special treatment.
The investment allowance will be available to the taxpayer who is entitled to the capital allowance deduction under Division 40.

The allowance can be claimed through the income tax return in which the first capital allowance is claimed for the asset.

A minimum expenditure threshold of $10,000 will apply. Where an asset is partly used for private or non-taxable purposes, only the portion that is used for a taxable purpose in carrying on a business will count toward meeting the threshold.

The investment allowance will be paid at a rate of 10 per cent of the asset’s first element of cost (in terms of Subdivision 40-C), to the extent that the asset will be used for a taxable purpose in carrying on a business.

Expenditures above the threshold which are capitalised into an existing asset as a second element of cost will also qualify for the investment allowance.

(The above information was provided by Hill Rogers Chartered Accountants)

Non Slip Surface

Jennifer Davies — Tue, 23 Dec 2008 02:39:20 +0000

To improve the safety of installers when working on underground fibreglass tanks FTS apply a non slip coating to the top of the tank. This gives good grip allowing access to fittings and manways in complete safety.

This non slip coating consists of silica granules impregnated in fibreglass resin.

Tank Manway Lids

Jennifer Davies — Thu, 20 Nov 2008 22:29:38 +0000

We have recently become aware of tanks that have failed testing due to leaking through the manway lid.
When installing a tank is important to ensure that all the bolts on tank manway lid/s are tightened once the tank is in the ground.

The recommended sequence is to start at 6 o’clock then go to 12 o’clock and then continue the same sequence clockwise. It is also important not to overtighten the bolts, they should not exceed 169 newton metres.

Underground Tank Installation - Ballasting

Jennifer Davies — Fri, 24 Oct 2008 01:37:45 +0000

In the past twelve months there have been a number of underground tanks that have required retesting and in some cases repairs when they came out of the hole after overnight rain. In all cases the installers had only partially ballasted the tanks or had not ballasted the tanks at all. It is imperative that underground tanks are progressively ballasted while the hole is being backfilled and remain ballasted until the final surface finish above them is completed and cured. Refer to our FRP Installation Manual for the correct installation proceedures.

Letter Of Commendation

Jennifer Davies — Thu, 18 Oct 2007 06:27:52 +0000

FTS recently received a letter of commendation from the Manager of Projects at Canberra International Airport for the manufacture and delivery of two 110,000 litre avaition fuel tanks.

(See previous newsletter 10/8/07)