Belmont-based Essa Australia has recommended shareholders accept a $38.7 million off-market takeover offer by publicly listed Danish company FLSmidth & Co.
Restructuring costs and a decline in product sales have affected the financial performance of minerals testing company Essa Australia, which today reported a slump in interim underlying profit to $30,000.
Shares in Essa Australia have slumped after the minerals testing company today said it expects to book an operating loss for the first half of the 2010 financial year.
Mining, sampling and laboratory equipment producer, Essa is making further improvements in efficiency and implementing cost reductions in response to posting a net loss of $800,000.
Minerals testing company Essa Australia has clashed with global firm SGS over a $3.2 million outstanding payment over a contract related to automation projects.
Minerals testing company Essa Australia has dramatically revised down its second half revenue and profit outlook, and anticipates that its full-year result will be around breakeven.
Mineral sampling equipment manufacturer Essa Australia expects to remain profitable during the second half of this financial year after it posted a 34 per cent drop in its interim net profit.
Belmont-based mineral sampling equipment manufacturer, Essa Australia Ltd, has posted a record net profit after tax of $1.9 million for the six months to December 2007, an increase of 23 per cent over the same period in 2006.
Belmont-based mineral sampling equipment manufacturer, Essa Australia Ltd, has announced a $7 million deal for the sale of its new laboratory automation system to global company, SGS Group.
Belmont-based mineral sampling equipment manufacturer Essa Australia Ltd has raised $5.6 million through a placement to fund the establishment of a manufacturing facility in Brazil, among other activities.
Belmont-based mineral sampling equipment manufacturer Essa Australia Ltd has increased its net profit by 79 per cent to $3.2 million, slightly exceeding the company's earlier guidance.
Shares in Belmont-based sampling equipment manufacturer Essa Australia Ltd were up nearly 20 per cent today, after the company announced an expected 65 per cent rise in net profit after tax from the previous year.
Belmont-based sampling equipment manufacturer Essa Australia Ltd will acquire Bibra Lake maritime engineering services provider Stace Pty Ltd for $2.2 million.
The chairman of Belmont-based sampling equipment manufacturer Essa Australia Ltd, Dudley Kingsnorth, has stepped down from the board in order to pursue other opportunities.
PERTH-BASED listed mineral testing equipment company Essa Australia and FLSmidth Automation, based in Denmark, have announced a partnership agreement to introduce robotic laboratory systems to the min
