Posts Tagged ‘SXE’

ASX Company News: Southern Cross Electrical Engineering Awarded AngloGold Contract

Thursday, September 27th, 2012

Southern Cross Electrical Engineering Ltd (SXE) is pleased to announce it has been awarded a contract for the Electrical, Instrumentation, Communication and Process Control Plant Infrastructure package of the Tropicana Gold Project. The Tropicana Gold Project is a joint venture between AngloGold Ashanti Australia Ltd (70% and manager) and Independence Group NL (30%).

SXE Managing Director, Simon High, said “We are extremely pleased to have been awarded this contract. Southern Cross Electrical Engineering has a very long and successful history of working on gold plants in remote locations and this award allows us to continue to build on the experience gained over many years. We look forward to continuing to work with AngloGold Ashanti Australia and the EPCM contractor, Lycopodium, in delivery of this very significant project.”

The remote greenfield project is located 330 kilometres east-north-east of Kalgoorlie and is expected to produce an average of 330,000-350,000 ounces of gold per annum over the life of the mine. The project development requires considerable supporting infrastructure including a new 11kv overhead powerline. The powerline installation will be constructed by our specialist infrastructure business, SCEE Infrastructure. The contract value is worth in excess of $40 million. Work will commence immediately on the project and conclude in May 2013.

Southern Cross Electrical Engineering Limited specialise in the construction, commissioning and maintenance of Electrical, Control and Instrumentation services to projects in the resource sector.

www.scee.com.au

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ASX Company News: Southern Cross Electrical Engineering Awarded Rio Contract

Thursday, September 27th, 2012

Southern Cross Electrical Engineering Limited (SXE) is pleased to announce that its overhead powerline construction business, K.J. Johnson & Co Ltd, has been awarded a contract with Rio Tinto for the second portion of the Yandi Sustaining Project – Design, Supply and Construct 33kV Distribution Overhead Line. As part of the Yandi Sustaining Project the existing 33kV overhead line distribution supplying various mine facilities from the Yandi 220kV Switchyard is to be upgraded and new sections of powerlines are to be installed. The value of the second portion is worth in excess of $29m with a forecast completion date in January 2014.

SXE Managing Director, Simon High, said “We are extremely pleased to be awarded the second portion of this contract. We consider that this demonstrates to the market the capability and competence of our infrastructure business to undertake large complex overhead powerline projects of this nature.” K. J. Johnson & Co Ltd specialise in the construction of overhead distribution HV powerlines, including switchgear and transformer installations. Other capabilities include design and engineering, asset management, maintenance, repairs, modification and powerline additions.

www.scee.com.au

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Dividends: Southern Cross Electrical Engineering Ex Dividend On 18/9/2012

Monday, September 17th, 2012

Sthn Cross Electrical Engineering (SXE) will go ex dividend on 18/9/2012.  The current dividend payment is 2.25 cents and it is 100% franked.  The record date is 24/9/2012 and the dividend will be paid on 18/10/2012.   Based on the full year payment the dividend yield is 2.0%.

*Current Yield: 2.0%    Franking: 100%    DRP Discount: Not Available

*Yield has been calculated on the closing price on the 13/9/2012.  Current yield is based on the current dividend payment only.

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ASX Company News: Southern Cross Electrical Engineering Wins Rio Overhead Power Line Contract

Monday, June 4th, 2012

Southern Cross Electrical Engineering Ltd (SXE) is pleased to announce that its overhead powerline construction business, K. J. Johnson & Co Pty Ltd, has been awarded a contract with Rio Tinto for part of the Yandi Sustaining Project – Design, Supply and Construct 33kV Distribution Overhead Line. As part of the Yandi Sustaining Project, the existing 33kV overhead line distribution supplying various mine facilities from the Yandi 220kV Switchyard is to be upgraded and new sections of powerlines are to be installed. The initial contract value is worth in excess of $9 million with the potential of additional optional items of the project that may be awarded. Works commence in June 2012 and conclude in January 2013.

SXE Managing Director Simon High said “We are very pleased to have been awarded this work by Rio Tinto. It allows us to continue to grow our specialised infrastructure business; K.J.  Johnson with a combination of both greenfield and brownfield works which is in line with our strategic objectives. There are a number of optional items of work on this project, which we would hope that based on good performance with the current scope, SCEE would be well placed to be awarded.”

K. J. Johnson & Co Pty Ltd specialise in the construction of overhead distribution HV powerlines, including switchgear and transformer installations. Other capabilities include design and engineering, asset management, maintenance, repairs, modification and powerline additions.

www.scee.com.au

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ASX Company News: Southern Cross Engineering Secures Rio Contract

Tuesday, April 10th, 2012

Southern Cross Electrical Engineering Ltd (SXE) is pleased to announce that its overhead powerline construction company, K. J. Johnson & Co Ltd, has been awarded a contract with Rio Tinto for their Coastal Water Project – Design and Construct 33kV Overhead Line. The greenfield project consists of a 37 kilometre overhead line in Pannawonica and forms part of Rio Tinto’s critical infrastructure development to assure a sustainable water supply for its Iron Ore operations. The contract value is worth in excess of $17 million. Work will commence in July 2012 and conclude in February 2013.

SXE Managing Director Simon High said “We are very pleased to have been awarded this work by Rio Tinto which together with our recently awarded Cape Lambert Port 33kV Overhead Line provides us with a very solid order book for the next six to nine months. It also demonstrates the continued growth of K.J. Johnson & Co Ltd as a leading powerline and infrastructure contractor in the resource sector.”

K. J. Johnson & Co Ltd specialise in the construction of overhead distribution HV powerlines, including switchgear and transformer installations. Other capabilities include design and engineering, asset management, maintenance, repairs, modification and powerline additions.

www.scee.com.au

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ASX Company News: Southern Cross Electrical Engineering Secures QCLNG Contract

Tuesday, December 20th, 2011

Southern Cross Electrical Engineering Limited (SXE) is pleased to announce it has received a Letter of Award from Thiess for the Electrical & Instrumentation Installation Works for QCLNG Early Works Project. The Electrical & Instrumentation package, valued at approximately $7m, will be undertaken by SXE as a sub-contractor to Thiess on the upstream elements of QGC’s QCLNG project. The scope of work for this element of the project consists of Field Compression Stations and ancillary works. The Early Works Project is a milestone Coal Seam Gas contract awarded to Thiess in December 2010 and is scheduled for completion in early 2012.

SXE’s East Coast General Manager Jorn Granger said that “This award was an important continuation of a long association with the Coal Seam Gas Industry and, in particular, with QGC. We look forward to bringing our expertise and CSG experience to the Thiess project for the QCLNG Early Works and beyond.” SXE’s Managing Director Simon High said “The award of this work from Thiess is excellent news and a great compliment to both our operations and bid teams who have been involved with CSG work for more than ten years now. We believe this award represents just the early beginnings of what will be a very challenging but potentially rewarding growth phase of the CSG industry and one that SXE expects to be a leading E&I contractor within”.

www.scee.com.au

http://www.traderdealer.com.au/fundamentals/sxe

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ASX Company News: Southern Cross Electrical Engineering Secures $15 million Powerline Contract

Tuesday, November 15th, 2011

Southern Cross Electrical Engineering Ltd (SXE) overhead powerline construction business, K. J. Johnson & Co Pty Ltd, announced  that it has been awarded a contract with Rio Tinto for their Cape Lambert Port B Project – Supply and Install 33kV Overhead Line.

SXE Managing Director Simon High said “We are extremely pleased with this contract award, which is in line with SXE strategy to build on K. J. Johnson & Co Pty Ltd specialist capabilities in the resource sector.

The contract value is worth in excess of A$15 million. This project, combined with other projects in hand, will take K. J. Johnson & Co Pty Ltd current order book to over A$24 Million. Work will commence immediately on the project and conclude in mid-2012. K. J. Johnson & Co Pty Ltd specialise in the construction of overhead distribution HV powerlines including switchgear and transformer installations. Other capabilities include design and engineering, asset management, maintenance, repairs, modification and powerline additions.

www.scee.com.au

http://www.traderdealer.com.au/fundamentals/sxe

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ASX Company News: Southern Cross Enters 5 Year Contract With Rio Tinto

Friday, September 16th, 2011

Southern Cross Electrical Engineering Ltd (SXE) is pleased to announce it has entered into a landmark framework agreement with resources company Rio Tinto’s Iron Ore business. The Agreement provides SXE with preferred contractor status for the next five years.  It covers the electrical and instrumentation package of works at Cape Lambert as part of RTIO’s 333 Programme – the  major expansion of Rio Tinto’s operations in the Pilbara, Western Australia to a capacity of 333Mt/a.  Whilst the scope of work is still to be finalised, the first package of works is expected to commence in FY12  and this Agreement already builds SXE’s FY13 order book.

SXE Managing Director, Mr Simon High said that the Agreement was a significant milestone for the  Company.  “The preferred contractor agreement that Rio Tinto has entered into with Southern Cross Electrical Engineering highlights the strength of the relationship between the two companies.  Southern Cross Electrical Engineering has been involved with Rio Tinto’s Pilbara port operations since 2005 through our  involvement in the Dampier port upgrade project. “The long term nature of this contract closely aligns the two organisations, providing Southern Cross Electrical Engineering with greater certainty in long term planning.  We will be able to devote dedicated resources to Rio Tinto to provide consistency and maintain high safety performance and quality execution across the contract period.”

www.scee.com.au

http://www.traderdealer.com.au/fundamentals/sxe

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ASX Company News: Southern Cross Electrical Secures Further Sino Iron Contract

Thursday, August 18th, 2011

Southern Cross Electrical Engineering Ltd (SXE) is pleased to announce it has been awarded its fourth electrical and instrumentation contract for the Sino Iron project for work at Area F of the process plant and the construction of an additional power line.

SXE Managing Director, Simon High said “SXE is highly supportive of the Sino Iron Project and over the last two years SXE has built a very strong relationship with MCC and CPM who are the owners and operators for this project.”  Work on Area F will be undertaken on a reimbursable framework basis.  This framework agreement has the potential for additional works to be included by mutual agreement between SXE and MCC.  Construction of the additional power line will be on a lump sum basis.

With the inclusion of this contract SXE’s order book for FY12 stands at over $75 million which is significantly greater than 12 months ago when the order book stood at $27 million.  Simon High said “The recent announcements by civil and structural contractors working on major Australian resource projects are key leading indicator for our business.  These announcements combined with the growth in our order book give me great confidence that SXE is on track for strong growth over the coming years”.

www.scee.com.au

http://www.traderdealer.com.au/fundamentals/sxe

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Share Purchase Plan: Southern Cross Electrical Engineering

Tuesday, April 19th, 2011

Southern Cross Electrical Engineering (SXE) announced on the 18/4/2011 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 15/4/2011 on which shareholders must own the share to participate in the SPP. The closing date is 23/5/2011.  Shares will be issued on 31/5/11 and begin trading on 1/6/2011.   A maximum of $15,000 can be purchased by each shareholder at $0.90.

Discount :  14.3% Liquidity : Poor  Profitability : Ok  Stability : Ok

www.scee.com.au

*Note: Discount is based on the closing price on the 18 April 2011.

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