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16.04.2020 (1077 Clicks)

Changes in the Board of Directors of Komatsu Europe International NV and the Management of Komatsu Germany GmbH

Mr. Göksel Güner, Managing Director of Komatsu Germany GmbH [KG] in Hanover, was appointed to the Board of Directors of Komatsu Europe International N.V. Effective April 1, 2020, he will assume the role of Chief Operating Officer (COO). Mr. Güner will also become a member of the Supervisory Board of Komatsu Germany GmbH. Mr. Güner was Managing Director of Komatsu Germany – Construction (Hanover), the former Komatsu Hanomag GmbH, for a total of 16 years.

16.04.2020 (774 Clicks)

Sweco Part of Designing a new Tramline in Helsinki

As part of investment in a growing tramline network in Helsinki, Finland, Sweco in alliance with Destia and WSP will provide services to Helsinki City Transport, HKL, for construction of the new Kalasatama tramline.

15.04.2020 (706 Clicks)

Update on Contracts – High Speed 2 and Highways England

Costain confirms that its joint venture company, Skanska Costain Strabag, (“SCSJV”) has been granted notice to proceed by High Speed Two (HS2) Limited to commence full detailed design and construction of Phase 1 of the HS2 railway in area south as part of the Main Works Civils Contract.

15.04.2020 (747 Clicks)

QRC welcomes Glencore’s Graduate Program Extension

With the ongoing uncertainty in Australia’s job market Glencore has taken decisive action by extending its 2021 Graduate Development Program said the Queensland Resources Council.

15.04.2020 (726 Clicks)

Fugro awarded Cairo Monorail Megaproject Site Characterisation Contract

The National Authority for Tunnels represented via the Arab Contractors has awarded Fugro a geophysical and geotechnical investigation contract for the second phase of the Cairo Monorail megaproject. The megaproject involves the construction of two monorail lines that will create the first public transport links from both Egypt’s as-yet unnamed new administrative capital (NAC) and 6th of October City to the Greater Cairo area.

15.04.2020 (805 Clicks)

Outokumpu appoints President and CEO

Outokumpu appoints Heikki Malinen as President and CEO

14.04.2020 (1189 Clicks)

New Major App provides Expert Tools and Information for Screen Media

Major, a leading global manufacturer of high-performance wire screening media, launches a new smartphone app to give customers up-to-date information and access to advanced digital tools. Called The Major App, the tool is available for mining and aggregates producers and Major dealers, with customizations for each.

14.04.2020 (833 Clicks)

Iron ore Exports from India to decline by 25% in 2020 amid Covid-19 Lockdown according to GlobalData

Iron ore exports from India are expected to decline by around 25% to 23.3 Mt in 2020 due to the coronavirus (Covid-19) outbreak and the subsequent closure of ports, shortage of workers and transport restrictions, which are severely disrupting the exports as well as the domestic supply, says GlobalData, a leading data and analytics company.

14.04.2020 (833 Clicks)

Most Queensland Resource, Energy Job Vacancies advertised in April

Amid tighter restrictions with the Covid-19 response, half of the 800 job vacancies in Queensland’s resources and energy sector were listed in the last fortnight on employment website SEEK.

11.04.2020 (884 Clicks)

Cimic 2020 AGM: 2019 statutory Loss due to one off Impact of BICC, sound Operating Performance

Strong liquidity & order book

Cimic Group Executive Chairman Marcelino Fernández Verdes said that Cimic Group was continuously monitoring and responding to the changing conditions associated with coronavirus, to ensure the safety of its people and the continuity of operations.

Speaking prior to the Group’s 2020 Annual General Meeting in Sydney, Mr Fernández Verdes said: “Covid-19 presents a great challenge to our society, and one which we can only overcome together.

“The health and wellbeing of our people is our priority, and our planning for their safety amid the spread of the virus has been underway for some time.

“We have also taken steps that allow us to continue to meet our clients’ needs over this challenging period. For our people, our shareholders, and for the communities where we operate, it is important that our operations continue, to keep critical infrastructure functioning.”

For 2019, Cimic reported a statutory net loss after tax of $(1.0) billion following a one-off post tax impact of $(1.8) billion relating to Cimic’s exposure to the non-controlling 45% financial investment in BIC Contracting, as a result of the decision to exit the Middle East.

Speaking about Cimic’s performance in 2019, Mr Fernández Verdes said: “Notwithstanding this non-recurring impact on our 2019 results, leaving the region is the appropriate long-term decision for our business and for our shareholders.

“Our operating performance (which excludes the one-off impact associated with BICC) was sound, with net profit after tax of $800 million, up 3% year on year.

“Net cash stood at $832 million at 31 December, and we have a strong level of liquidity further supported by committed, undrawn debt facilities of $3.0 billion at the end of December.

“This strong level of operational liquidity is not impacted by the expected cash outlay for BICC, given that we have a separate, dedicated and additional liquidity facility of $1.5 billion for this matter.”

In 2019, Cimic returned $526 million to shareholders through dividends and the share buyback. While Cimic did not declare a 2019 final dividend, Cimic’s focus remains on continuing to deliver returns and another buyback of shares has commenced to further remunerate shareholders.

Cimic has a strong pipeline of new work, and work in hand1 reached $37.5 billion at the end of 2019, equivalent to more than two years’ worth of revenue.

Mr Fernández Verdes said: “Since the commencement of our transformation back in 2014, we have worked to establish a unique, diversified business model which delivers cash-backed profit and sustainable returns through effective risk mitigation.

“Our portfolio composition, supported by a mix of activities and geographies, has increasingly moved towards a better balance of risk sharing contracts and we are engaging with our clients in collaborative contracting models like alliancing.

“Across our markets, we expect that governments and the private sector will continue to invest to meet sustained demand for critical economic and social infrastructure, notwithstanding the short-term impact of coronavirus.”

In total, there are more than $500 billion of tenders relevant to Cimic to be bid and/or awarded in the current and coming years.

Source: Cimic