In Brief: 23 June 2010 – UXC, AEJ
June 23, 2010
UXC Limited (UXC) said subsidiary Utility Asset Management has recently been awarded five major electrical asset maintenance contracts with a potential combined value of up to $150 million. The company said three contracts for the inspection and treatment of power poles have been renewed by EnergyAustralia in New South Wales, with each four-year contract including two further four-year options. The company said two contracts for the inspection, treatment and data capture of electrical assets in Queensland have been renewed by Ergon Energy Corporation Limited. Each three-year contract includes two further one-year options. UXC said the initial contracted value of the combined works is $76 million with additional available works valued at $74 million if all options are exercised.
Alinta Energy Group (AEJ) said it has received a number of indicative, non-binding, confidential bids, including for both whole of the business and parts of the business, as the company looks to cut debts. The company said no decision has been made on whether any of these options would be pursued. Alinta said pending an outcome on its assessment of these options, the company has not yet implemented the equitisation of intra-group loans approved by shareholders earlier this year. The company reaffirmed its FY10 normalised EBITDA guidance of $288 million.
Alinta Energy Group (AEJ) said it has received a number of indicative, non-binding, confidential bids, including for both whole of the business and parts of the business, as the company looks to cut debts. The company said no decision has been made on whether any of these options would be pursued. Alinta said pending an outcome on its assessment of these options, the company has not yet implemented the equitisation of intra-group loans approved by shareholders earlier this year. The company reaffirmed its FY10 normalised EBITDA guidance of $288 million.
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