News Articles for Simon Thomas

BHP opens $150m Mulla Mulla upgrade

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The official opening of BHP's upgraded Mulla Mulla village in the Pilbara today adds a key component to the company's strategy for attracting workers to its iron ore projects.

World's largest ore stackers to be built in WA

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thyssenkrupp Industrial Solutions Australia will design and build the world's largest rail-mounted stackers in Western Australia after winning a $250 million contract for BHP Group's $4.6 billion South Flank iron ore project.

Thomas hands Veris reins back to Lamond

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Adam Lamond will return to the helm of the diversified company he established in 2003, after Simon Thomas announced his resignation from Veris, formerly known as OTOC.

Otoc buys Lester Franks for $5m

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Perth-based OTOC has further expanded its operations with the acquisition of Tasmanian business Lester Franks Survey & Geographic for up to $5 million in cash and shares.

OTOC flags drop in work

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Diversified surveying and contracting group OTOC said today there had been a reduction in the volume of work available for its infrastructure division at the immigration detention centre on Nauru, with the slowdown expected to hit divisional earnings.

Otoc raises $12m for new acquisitions

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Perth-based surveying and construction contractor OTOC has raised $12 million from investors to fund its future growth plans.

OTOC to pay first dividend

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After a year of acquisitions and big contract wins, diversified business OTOC has returned to the black and will pay its first-ever dividend.

Otoc buys Olson's WKC Spatial

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OTOC has expanded its surveying portfolio with the acquisition of local company WKC Spatial for $1.9 million.

Otoc buys another business

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Diversified contractor OTOC has made another east coast acquisition, announcing today the purchase of surveying consultancy Lawrence Group for up to $5.85 million in cash and shares.

Diversification drives Otoc's earnings

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Diversified contractor OTOC has flagged record earnings for FY16, on the back of acquisitions made during the year and two big contract wins.

$40m solar facility commissioned

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Sandfire Resources has announced completion of a $40 million solar power facility at its DeGrussa copper-gold mine, with the plant achieving full generation capacity.

Otoc in $4m Sydney buy

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OTOC has further grown its presence on the east coast with the acquisition of a Sydney-based land surveying firm for $4 million in cash and shares.

Diversification driving business

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SPECIAL REPORT: How does a tech startup in Northbridge backed by a mining consultancy in West Perth manage to secure work on the world's largest privately funded infrastructure project, in Nicaragua? Business News profiles how CSA Global, Lycopodium, OTOC and PwC have chased diversification strategies.

OTOC in strong profit rise

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OTOC has reported a strong rise in revenue and earnings for the six months to December 2015, helped by its acquisition of three east coast surveying firms and two big contracts in its infrastructure contracting arm.

Otoc up on higher earnings

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Perth-based contractor OTOC expects to post a profitable half-year after diversifying its business to mitigate the impact of the resources sector downturn.

Otoc secures surveying contract

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Local contractor OTOC has won a contract to provide surveying services to a joint venture which is building a light rail route in Sydney, with the value of the deal undisclosed.

Otoc in second Nauru win

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Osborne Park-based contractor Otoc has continued its move into defence-related work, winning approval for a $13 million contract on Nauru.

Otoc flags loss, cuts costs

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Perth contractor Otoc has flagged a likely loss for the 2015 financial year after disclosing that impairment, restructuring and acquisition costs of about $10 million would outweigh its operating profit.

Otoc wins work at Sandfire

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An international consortium comprising European renewable energy companies, Australian government agencies, and local contractor Otoc has come together to finance and develop a $40 million solar power project at Sandfire Resources' DeGrussa copper mine.

OTOC to buy Brisbane surveyor for $4m

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Osborne Park-based contractor Otoc is continuing its east coast expansion plans with a proposal to buy a Queensland surveying and planning firm for a cash and share package worth up to $4.4 million.

OTOC buys surveying business for $12m

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Shares in Perth-based contractor OTOC have surged on news it is looking to expand its presence on the east coast with the acquisition of Sydney-based Geo-Metric Surveying for up to $12 million.

OTOC secures expanded debt facility

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Perth-based contractor and surveyor OTOC has obtained approval for an $8.1 million debt facility from the Commonwealth Bank of Australia, on top of an $8.2 million facility it was awarded from the CBA last year.

Otoc steps towards east coast expansion

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Surveying and infrastructure company Otoc has completed its acquisition of Victorian urban design and town planning business Bosco Jonson.

OTOC secures $10m

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Perth-based contractor OTOC has secured $10 million in funding to pursue its national expansion, through a 20-cent placement of 50 million shares.

OTOC shares up on Bosco buy

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Shares in Perth contractor OTOC have surged after it announced it had taken a first step towards creating a national surveying business by acquiring Victorian firm Bosco Jonson for $17 million.

Profit rise for OTOC

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Perth-based contractor OTOC says its diversification strategy and growth of its business divisions helped it raise full-year profit by 5 per cent to $5.46 million.

OTOC shares rise on profit guidance

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Shares in OTOC have jumped by 20 per cent after the company released a promising earnings guidance and gave a positive insight into future operations.

OTOC wins Roy Hill contract

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OTOC Australia has been awarded a $3 million contract with NRW for the mine process plant in-ground services at the Roy Hill iron ore project in the Pilbara.

Execs have remuneration options

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Is $1,500 per day plus all reasonable expenses a good rate of pay for the top executive at a junior mining company in the midst of a cost-cutting drive? Read Business News' latest quarterly salary survey to learn more.

New CEO for OTOC

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Contractor OTOC has appointed Simon Thomas as its new chief executive officer as current CEO Adam Lamond takes on the position of executive director for corporate strategy.