Henderson-based ship builder Austal has flagged an earnings deficit of up to $121 million on the back of unexpected costs incurred in its $US4 billion contract with the US Navy.
A joint venture between Downer and Canadian train manufacturer Bombardier Transportation has won more work with the Public Transport Authority of WA, securing $512 million in contracts for both the supply of new trains and for maintenance services.
New businesses are gearing up to supply drivers in the state’s ridesharing industry, with legalisation of services such as Uber due to start on July 1.
The downturn in the oil and gas sector could create a growth opportunity for the local boat building industry, based on the conversion of workboats into luxury superyachts.
Henderson-based superyacht builder Echo Yachts takes a different approach to most manufacturers – its workers have been told to slow down, and now they are setting records.
Shares in marine services business MMA Offshore were lower after the company warned of a profit reduction and no reprieve in the coming financial year.
Transport and logistics company McAleese Group has announced a recapitalisation deal with its financiers and a Hong Kong investments group, which includes de-listing from the ASX and undertaking a $26 million capital raising.
Henderson-based shipbuilder Austal has won four packages of work on littoral combat ships for the US Navy, worth a combined $US5 million ($A7 million).
The competition watchdog has further delayed its decision on the $9 billion takeover of rail and ports giant Asciano, after receiving complaints that the deal would reduce competition in the container logistics business.
Trucking and logistics company K&S Corporation expects to make little, if any, profit in the second half of the 2015-16 financial year after being hit by difficult conditions across the country.
Nationals leader Terry Redman says the party remains opposed to the sale of Fremantle Ports, despite supporting treasurer Mike Nahan's introduction today of a bill to enable a lease of up to 99 years to proceed.
Shipbuilder Austal has signed a $305 million contract to build and maintain Pacific Patrol Boats for the Australian government, however the contract’s price tag was smaller than what the Commonwealth had flagged.
The federal government has signed a $2 billion contract with a group of defence contractors that will ensure maintenance of ANZAC class frigates continues at Henderson for the next eight years.
CTI Logistics has put more of its surplus properties on the market after disclosing that its underlying profit continued to deteriorate during the March quarter, with the business hit by what it said was a severe downturn in activity in Western Australia.
Treasurer Mike Nahan will embark on a regional pitch for the sale of Fremantle Ports, today revealing that the package could include a redevelopment of the passenger terminal, and a long-term fund to pay for infrastructure at the future outer harbour.
Wesfarmers chief executive Richard Goyder has thrown his support behind the state government’s plan to lease Fremantle Ports, saying the state needs a world-class operator to ensure exports are competitive internationally.
