Posts Tagged ‘SXE’

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

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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

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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

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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

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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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ASX Company News: Southern Cross Engineering Secures Electrical Contract For Sino Iron Ore Project

Thursday, March 3rd, 2011

Southern Cross Electrical Engineering Ltd (SXE) is pleased to advise it has received a letter of intent for the first concentrator area electrical installation contract for the Sino Iron Ore Project.  The award of this contract brings SXE’s current forward order book to approximately $55 million.  Work on this project is expected to commence in April and run for approximately six months.

SXE’s Managing Director, Simon High said “We are very pleased to continue our involvement in this project.   During FY10, Southern Cross was involved in setting up the early power supply requirements for the site.  This installation contract is the first of six concentrator areas to be completed.  Successful execution on this contract should place SXE in a strong position to win the electrical installation work on the remaining five concentrator areas in addition to other significant electrical and instrumentation installation contracts to be awarded by MCC for the Sino Iron Project.”

www.scee.com.au

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Dividends: Southern Cross Engineering Ex Dividend On 30/8/2010

Friday, August 27th, 2010

Southern Cross Electrical Engineering (SXE) will go ex dividend on 30/8/2010. The current dividend payment is 4.5 cents and it is 100% franked. The record date is 3/9/2010 and the dividend will be paid on 5/11/2010. Based on the full year payment the dividend yield is 6.1%.

*Current Yield: 4.2% Franking: 100% DRP Discount: Not Available

Sth Crs Elect Engnr

*Yield has been calculated on the closing price on the 26/8/2010. Current yield is based on the current dividend payment only.

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Southern Cross Electrical Engineering Ex Dividend On 15/3/2010

Wednesday, March 3rd, 2010

Southern Cross Electrical Engineering (SXE) will go ex dividend on 15/3/2010. The current dividend payment is 2 cents and it is 100% franked. The record date is 19/3/2010 and the dividend will be paid on 2/4/2010. Based on the full year payment the dividend yield is 5.0%.

*Current Yield: 1.5% Franking: 100% DRP Discount: Not Available

www.scee.com.au

*Yield has been calculated on the closing price on the 26/2/2010. Current yield is based on the current dividend payment only.

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Southern Cross Engineering Acquires Oceanic Industries

Tuesday, February 2nd, 2010

Southern Cross Electrical Engineering Ltd (SXE) today announced the execution of an agreement to acquire Queensland based electrical and instrumentation specialist, Oceanic Industries Pty Ltd (“Oceanic”). To date Oceanic has focussed on the coal seam gas (“CSG”) market and retains a blue-chip customer base including: QGC, Origin, Santos, Arrow and Cougar. In addition to servicing the CSG market, Oceanic undertakes electrical and instrumentation installations as a preferred contractor to the BP and Caltex refineries in Queensland.

Oceanic’s revenue for FY09 was $12.9m which delivered normalised earnings before interest, tax, depreciation and amortisation of $3.0m. The acquisition price is $12.4 million and will be funded through a combination of existing cash reserves ($3.4m), equity ($4.0m) and debt ($5.0m) with settlement expected to be finalised on 26 February 2010. The acquisition will be immediately EPS accretive.

SXE Managing Director, Mr Stephen Pearce said “SXE welcomes the team from Oceanic to the SXE Group and looks forward to substantially growing the Oceanic business. This acquisition presents a strong strategic fit with SXE’s acquisition criteria and will augment the pursuit of a range of SXE’s key growth objectives, particularly:

  • Oceanic provides an excellent platform to grow SXE’s overall presence in the Queensland market.
  • It further expands SXE’s presence in the growing energy sector.
  • Provides organic revenue growth opportunities – SXE to strengthen its footprint in the Queensland power line and mining electrical construction markets that Oceanic currently does not participate in.
  • Existing Oceanic senior management team to strengthen SXE’s skill base in the Oil and Gas sector – specialised capability in Hazardous areas.
  • Strengthens tendering capability for key Queensland based contracts.

SXE is currently finalising the results for the first half and expects to report an underlying consolidated net profit after tax result of between $4.5m and $4.8m from revenue of $38.8m.

www.scee.com.au

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Southern Cross Electrical Engineering Receives Woodside Contract

Friday, November 13th, 2009

Southern Cross Electrical Engineering Limited (SXE) is pleased to announce that it has received an Notice of Award of Contract from Woodside for the Pluto LNG Project storage and loading facility Electrical and Instrumentation Works with a value of approximately $35 million. Mobilization of SXE’s team will commence at the end of December with completion expected in July 2010.

Managing Director, Stephen Pearce, said “Southern Cross has worked hard over the last 18 months preparing itself to re-enter the oil and gas market. The team at Southern Cross is looking forward to working with Woodside in constructing this national asset. This award is the start of what is expected to be an exciting period for the Company as we look at the pipeline of LNG projects that are being developed over the coming years.”  This brings the year to date revenue won by SXE to approximately $75 million.

Southern Cross Electrical Engineering (SCEE) was established in 1978 and together with its overseas group of companies, is a dedicated provider of large scale specialised electrical, control and instrumentation installation and testing services for major construction projects in Australia, and throughout the world. SCEE is a quality endorsed company, with AS/NZS ISO 9001 accreditation and has a strong track record of safety and excellence that is recognised by numerous industry awards over the years.

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