Downer EDI sells Otraco to Bridgestone Corporation for $79 million

SYDNEY: Downer EDI Limited entered into an agreement to sell its tyre management business (Otraco) to Bridgestone Corporation (Bridgestone). The sale price represents an enterprise value of $79 million, a news release said. Bridgestone, which was established in 1931 and is listed on the Tokyo Stock Exchange, is a global company with operations in more…

Downer EDI gets $245mn to upgrade electricity transmission network supplying Eyre Peninsula

AUCKLAND: Downer EDI Limited has been awarded a $245 million contract by ElectraNet Pty Ltd to upgrade the existing electricity transmission network supplying the Eyre Peninsula in South Australia and to upgrade electricity substations, a news release said. Downer will commence work under the contract at the end of March 2021 and the new transmission…

Downer completes transition of underground services to Byrnecut

AUCKLAND: Downer EDI Limited announced that it had completed the transition of underground mining services at OZ Minerals’ Carrapateena mine to Byrnecut Australia. As announced on 20 January 2021, the transition included the transfer of equipment from Downer to Byrnecut. Downer confirms it has received $56 million (representing book value) for the sale of plant…

Downer EDI exits Underground mining services

AUCKLAND: Downer EDI Limited announced that underground mining services at OZ Minerals’ Carrapateena mine will transition from Downer to Byrnecut Australia. The Chief Executive Officer of Downer, Grant Fenn, said the transition was another step in Downer’s strategy to exit its capital-intensive Mining businesses and focus on its Urban Services strategy. “Downer’s exit from Underground…

Downer to divest 70 percent of laundries business for $155 million

WELLINGTON: Downer EDI Limited has entered into an agreement to sell 70% of its Laundries business to an entity established by Australian private equity firm, Adamantem Capital, a news release said. Under the agreement, Downer will sell a 70% interest in Laundries and receive total proceeds of approximately $155 million on a cash and debt…

Downer EDI to sell blasting services business to Enaex for $62 million

WELLINGTON: Downer EDI Limited has entered into an agreement to sell its blasting services business (Downer Blasting Services) to Enaex S.A. The sale price represents an enterprise value of $62 million. Enaex S.A. is a subsidiary of the Chilean company Sigdo Koppers Group, which has operations in five continents, and is the largest producer of…