The first of 100 railcars built for Rio Tinto in Western Australia has rolled off the production line ready for its 1,500-kilometre journey north to the Pilbara.
Global companies Metso and Weir Minerals and Perth firm Camco Engineering are leading a flurry of developments that will bring new jobs to Karratha and Port Hedland.
Efforts to revive manufacturing in WA have been boosted by a $150 million deal between Gemco Rail and Rio Tinto to build 100 iron ore wagons and certain components locally.
Perth-based rail services business Momentum Rail has been awarded a $4 million contract to supply rail workers and train drivers to the Roy Hill iron ore project in the Pilbara.
Perth-based rail maintenance services business Gemco Rail has been awarded two contracts worth $5 million for the maintenance of trains on Perth's metropolitan railway network.
Investors have savaged engineering and maintenance group Engenco after the company, formerly known as Coote Industrial, said its earnings for the 2012 financial year would be lower than expected an
Coote Industrial has posted a $124.6 million net loss after tax for the 2010 financial year, after incurring $118.9 million worth of impairments, writedowns and losses on the sale of assets.
Heavily indebted Perth company Coote Industrial has announced a deeply discounted rights issue pitched at just 16 cents per share and the sale of South Spur Rail Services.
Coote Industrial's financial woes have forced it to turn to its bidder, Elph, for help as it reiterates to shareholders to take no action on the once rejected takeover offer.
Coote Industrial is reconsidering Elph's proportional takeover offer after it forecast a $2 million full-year loss, the second earnings downgrade this week.
Coote Industrial has downgraded its earnings forecast by about $10 million on the back of uncertainty surrounding the resources super profit tax and the proportional takeover bid by Elph.
Coote Industrial will be forced to pay Elph $6.5 million after the takeover bidder exercised its put option to sell its stake in Coote subsidiary, Greentrains.
An independent assessment of Elph's proportional takeover offer for Coote Industrial has deemed the bid neither fair nor reasonable, and valued the target's shares at least 10 cents higher than the offer.
Takeover target Coote Industrial has entered a binding agreement to sell its South Spur Rail Services subsidiary to logistics company P&O Trans Australia for $16 million cash.
Elph has ramped up its all-cash proportional takeover bid for Coote Industrial with the removal of two key conditions which it says will provide greater certainty to the offer.
Coote Industrial managing director Michael Coote says he will reject the proportional takeover from Elph, saying its an opportunity to exploit a moment of short-term weakness in Coote's share price.
Victorian and Tasmanian Caterpillar dealer, Dale Elphinstone, plans to launch a proportional takeover for Coote Industrial in an offer than values the target at $69.3 million.
Coote Industrial has today confirmed it has raised $30 million from a share placement and will raise a further $10 million through a share purchase plan.
An independent expert has judged Coote Industrial's $4 million convertible note offer to Elphinstone Group as reasonable but not fair due to the substantial share discount.
Maddington company Coote Industrial expects to report a small net profit for fiscal 2009 after accounting for delays associated with the Greentrains payment.
MADDINGTON-BASED Coote Industrial and associated company Greentrains have negotiated related fund raising deals worth $8 million with Victorian Caterpillar dealer Dale Elphinstone.
Coote Industrial says it is still waiting on a $75 million payment from the sale of locomotives and wagons as it posts a 70 per cent fall in its first half net profit.
Shares in Coote Industrial Ltd have bucked the broad downward trend of the market, jumping over 30 per cent in morning trade on a please explain note from the Australian Securities Exchange.
Maddington-based engineering company Coote Industrial Ltd has signed an exclusive Australian distribution agreement with a subsidiary of global company Caterpillar Inc.
West Perth-based Coote Industrial Ltd has announced a net profit after tax of $7.3 million for the half year to December 2007 on sales of $143.8 million.
Nedlands-based diesel maintenance company Coote Industrial Ltd has announced plans to acquire rail services provider South Spur Rail Services Group in a cash and scrip deal worth $25 million.
