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Emeco exits Chile with asset swap deal

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.

Emeco raises $20m to fund merger

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 to raise funds

Emeco Holdings (ASX:EHL) has been granted a trading halt by the ASX, pending details of an entitlement offer.

Emeco deal finally gets approval

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.

Better numbers for Emeco

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 lined up for Emeco IT job

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 restructure costs hit $39m

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.

Emeco wins creditor backing

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.

Creditors block Emeco deal

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.

ACCC not probing Emeco merger

The competition watchdog says it won’t be probing Emeco Holdings’ three-way tie-up with Orionstone and Andy’s Earthmovers.

Emeco says merger on-track despite new proposal

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.

Emeco shrugs off ratings downgrade

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.

Morning Headlines

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's shares in pre-open

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.

Emeco lifts earnings

Shares in mining equipment supplier Emeco Holdings were up 50 per cent today after the company revealed an earnings uplift despite continued tough conditions.