Company Overview and News
Heavy equipment supplier Emeco Holdings will leave its struggling operations in Chile behind through an asset swap agreement that will boost its Australian fleet by 85 units.
Heavy equipment supplier Emeco Holdings has launched a fully underwritten $20 million capital raising to fund its three-way merger with east coast companies Orionstone and Andy’s Earthmovers.
Emeco Holdings (ASX:EHL) has been granted a trading halt by the ASX, pending details of an entitlement offer.
Heavy equipment supplier Emeco Holdings has turned its focus to completing its merger with east coast companies Orionstone and Andy’s Earthmoving after noteholders backed a complex balance sheet restructuring today.
Osborne Park-based heavy equipment supplier Emeco Holdings has reduced its first half net loss after tax by around 70 per cent to $31.3 million for the six months to December.
Cirrus Networks has been earmarked for a contract to provide IT managed services to heavy earthmoving equipment supplier Emeco Holdings for an undisclosed sum.
Emeco Holdings today sent out a mammoth 811 pages of documentation for its revised restructuring scheme, and buried inside is a breakdown of fees showing that, while its lawyers will get paid more, the company’s financial advisers will take a haircut after the first restructuring scheme fell over.
Two days after some of Emeco Holdings large creditors blocked a major restructuring, they have reversed their stance after being given an opportunity to acquire more equity in the group.
The planned three-way merger between Perth-based Emeco Holdings and east coast companies Orionstone and Andy’s Earthmovers will not proceed as planned after the deal failed to win sufficient backing from creditors.
The competition watchdog says it won’t be probing Emeco Holdings’ three-way tie-up with Orionstone and Andy’s Earthmovers.
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.
Reserve Bank of Australia governor Philip Lowe has thrown responsibility for the nation’s biggest economic challenges – including low wage growth, poor infrastructure, and the high cost of housing – back at politicians, telling them his primary job is to keep inflation alive. The Fin
Emeco Holdings Ltd (ASX:EHL) is preparing to outline details regarding a potential merger transaction, with the ASX granting the company a trading halt to prepare. The halt will remain in place until the opening of trade on Friday 23rd September 2016, or earlier if an announcement is made to the market.
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.