Emeco Holdings has sought to reassure investors that its planned three-way tie-up with Orionstone and Andy's Earthmovers is progressing smoothly, despite news that one of the parties involved has received a takeover bid of its own.
Heavy earthmoving equipment supplier Emeco Holdings has shrugged off a credit rating downgrade from Fitch Ratings, with managing director Ian Testrow saying the market should focus on the big picture of the company's merger and restructuring plan.
Shares in mining equipment supplier Emeco Holdings were up 50 per cent today after the company revealed an earnings uplift despite continued tough conditions.
After a solid start to the financial year, mining equipment supplier Emeco Holdings has posted a $107.2 million half-year loss as a result of impairments to its Canadian business.
Western Australia's highest paid mining contractor is set to lose that title, after NRW Holdings joined most of its peers in cutting the salary of its chief executive by 40 per cent.
Mining equipment supplier Emeco Holdings has announced a deterioration of its Canadian operations as a result of the depressed oil price, but still expects to lift underlying earnings from a weak FY15 result.
SPECIAL REPORT: Newly appointed chief executives in Western Australia are mostly receiving lower salaries than their predecessors, but retaining plenty of upside through incentive schemes, a survey of nearly 40 new CEO pay packages has found.
Mining equipment supplier Emeco Holdings says its improved quarterly revenue and cash flow came in spite of operating difficulties in Western Australia.
Local mining services companies Ausdrill, Emeco Holdings and Lycopodium have posted net losses for the financial year, with lower activity in the resources sector weighing on their pipelines of available work.
