Mining services group Ausdrill has refinanced its debts, announcing today it had signed a new three-year, $550 million dual currency facility with a syndicate of banks.
Mining services group Ausdrill has reported a record net profit of $112.2 million for the 12 months to June 30, a 53 per cent jump the company said was the result of its expanded service offering.
Ausdrill has completed its acquisition of the Best Tractor Parts Group, announcing today it has agreed to pay $165 million for the earthmoving and tractor equipment retailer.
A DECADE ago, engineering and construction contractor Monadelphous Group just made it into a listing of the state's 50 largest companies, with a market capitalisaton of $71 million.
Ausdrill has advanced its plan to acquire the Best Tractor Parts Group, signing a non-binding heads of agreement to negotiate terms and conditions of the transaction.
‘UNPRECEDENTED' would be an apt word to describe demand for the services of family owned and operated Wallis Drilling, which has done surface drilling work for some of the biggest open-pit miners s
MINING services company Ausdrill has signed on as a major sponsor of the Hockeyroos, the Australian women's hockey team, in a two-year deal that ends a decade-long search for financial backing.
Mining services company Ausdrill has signed on as the major sponsor of the Hockeyroos, Australia's women's hockey team, in a two-year deal that ends a long search for financial backing.
The recent round of profit reports has shone a spotlight on the performance of Western Australian companies tapping into the surging activity in the resources sector.
Drilling and mining services firm Ausdrill has delivered another record profit for the half year ended December 31, lodging a 50.4 per cent spike to $54.6 million.
Ausdrill managing director Ron Sayers and his business associate, Barminco founder Peter Bartlett, have been charged with fraud over events that occurred nearly ten years ago.
Ausdrill Limited is on track to deliver a $48-$50 million half-year profit after tax, an increase of between 32 and 37 per cent on the previous corresponding period.
Drilling services firm Ausdrill says it is looking at establishing a new division providing underground mining services, after failing to reach an agreement on the acquisition of rival contractor B
PRIVATE equity group Archer Capital has emerged rapidly this year to become one of the largest investors in Western Australia, following its purchase of the company behind the Chicken Treat and Red Rooster fast food chains.
Patersons Securities has retained top spot in WA Business News' annual survey of capital raisings, followed by Hartleys, Euroz Securities and Macquarie Capital Advisers.
Canning Vale-based Ausdrill has been awarded a mining services contract by Central Ashanti Gold for the company's gold project in Ghana which is expected to generate $US300 million in revenue over 5 years.
Ausdrill will raise nearly $104 million through a placement and underwritten rights issue with managing director Ron Sayers to invest $5 million of his own money into the mining services company.
A drilling contractor jointly owned by Perth companies Ausdrill and Barminco has secured two contracts valued at $US155 million ($A169 million) for underground work in West Africa.
Mining services companies Brandrill and Ausdrill have proposed a friendly scrip merger to create whay they say will be a larger, more diverse company able to better serve existing clients and with greater financial capacity to fund future growth.
Ausdrill says it has entered into a non-binding $US150 million ($A213 million) agreement with AngloGold Ashanti for drilling and blasting services at its Geita gold mine in Tanzania.
Ausdrill Ltd has blamed a fall in the company's share price on hedge fund selling after comments from suitor Macmahon Holdings Ltd that its takeover bid was unlikely to succeed.
Fortescue Metals Group Ltd has extended a drill and blast contract with Ausdrill Ltd in a deal that will generate the mining services company over $300 million in revenue over five years.
In a boost to its takeover bid for Ausdrill Ltd, Macmahon Holdings Ltd has received acceptances from Ausdrill shareholders with nine per cent of the company's stock following the establishment of an institutional acceptance facility last week.
Macmahon Holdings Ltd has further strengthened its takeover bid for Ausdrill Ltd, waiving several conditions and allowing shareholders to keep the final six cents dividend.
Takeover target Ausdrill Ltd has posted a 28 per cent increase in its full year net profit on the back of a six per cent increase in revenue to $391 million.
Takeover target Ausdrill Ltd has forecast earnings growth in the 2009 financial year of at least 20 per cent after posting a 31 per cent increase in net profit after tax for fiscal 2008.
Canning Vale-based Ausdrill Ltd has forecast an extra $370 million in revenue after African miner Gold Fields Ltd extended its contract to cover the life of a mine in Ghana.
Takeover target Ausdrill Ltd has cast aside its share trading policy, in light of managing director Ron Sayers' recent share spending spree, justifying the move as not applicable during a hostile takeover scenario.
