Posts Tagged ‘SXE’

  • 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.

    www.scee.com.au

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    Southern Cross Electrical Engineering Ex Dividend On 2/10/2009

    Tuesday, September 22nd, 2009

    Southern Cross Electrical Engineering (SXE) will go ex dividend on 2/10/2009. The current dividend payment is 4.5 cents and it is 100% franked. The record date is 9/10/2009 and the dividend will be paid on 23/10/2009. Based on the full year payment the dividend yield is 4.2%.

    *Current Yield: 2.9% Franking: 100% DRP Discount: Not Available

    www.scee.com.au

    *Yield has been calculated on the closing price on the 18/9/2009. Current yield is based on the current dividend payment only.

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    Southern Cross Engineering Acquires KJ Johnson

    Tuesday, August 4th, 2009

    Southern Cross Electrical Engineering Limited (SXE) is pleased to announce that it has executed an agreement to acquire the overhead power line business operated by K.J. Johnson & Co Pty Ltd for $9.6m. Completion is expected to occur on 7 August 2009. The acquisition will be funded from existing the cash reserves and represents an EBIT multiple of 2.2x. As part of the transaction SXE will acquire the assets of KJJ’s including the premises in Bayswater, WA and the business name K.J. Johnson & Co. KJJ has been a major player in the overhead power line construction business in the Western Australian resource market.

    SXE Managing Director, Stephen Pearce, said “the demand for overhead power line construction over the coming years from the resource sector is expected to grow. Southern Cross is already an active participant in this market and the addition of KJJ will increase our capacity to pursue these opportunities. With the strong project pipeline in front of SXE and the recent acquisitions of KJJ and Hindles, SXE’s focus over the next 12 months will be on the strong organic pipeline it has and to complete the integration of the acquired businesses.”

    SXE 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.

    www.scee.com.au

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