West Perth-based freight vehicle maintenance company Transerv Australia Ltd has been re-admitted to the official list of the ASX after going into administration in January this year.
Transerv also entered into a joint venture agreement with Canning Vale-based mining services company Ausdrill Ltd in late July, following a shareholder meeting.
In exchange for $100,000, the agreement gave Ausdrill a 50 per cent shareholding in Transerv's fleet vehicle repair and maintenance service Westrans (formerly Bluefire) Services WA Pty Ltd.
The company recently completed a capital raising of $2.8 million to fund expenditure commitments, and continues to evaluate new investment opportunities.
Transerv has appointed Tim Wise, Claire Poll and Brett Mitchell as company directors, following the resignation of external administrators Russell Black, Thomas Gilfillan, Graeme Kirke and company secretary from their positions on July 24.
Last year the company incurred a loss of $1.7 million 04-05 financial year following a loss of $0.8 million in the previous financial year.
Today Transerv shares closed up at 20c.
