Calibre looks north with marketing JV

Mining services company Calibre Group has launched a marketing joint venture with a Canadian oil and gas company as it looks to expand its presence into North America.

The joint venture, between Calibre's wholly owned engineering and project delivery business Calibre Global and Canadian firm True North Automation, will operate as Toric Technologies.

Calibre said the joint venture would aim to develop oil and gas technology market opportunities in Australia and bulk commodities mining, rail and integrated operations technology opportunities in Canada.

"This iniative aligns with Calibre's strategy to diversify into new end markets such as oil and gas and to diversify our existing services into new regions overseas, including Canada and North America," Calibre chairman Ray Horsburgh said.

Calibre recorded a 34 per cent fall in net profit after tax to $22.2 million for the 2013 financial year in what it described as a challenging market. 

The company's underlying earnings before interest, taxation depreciation and amortisation was down 20 per cent, to $59.8 million.

Calibre shares were unchanged at 45 cents at 10:00AM WST.