ANG austin engineering limited

Here is a list of the contract expected from the update provided...

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    Here is a list of the contract expected from the update provided by ANG. When these are awarded profits will flow for ANG (and shareholders)

    http://www.aspectfinancial.com.au/docserver/01519284.pdf?fileid=01519284&datedir=20140521&edt=MjAxNC0wNi0wNCsxMTozNzo0MysxMjArNjEyNjI4OTYrZXRyYWRleG1sK3JlZGlyZWN0Ky9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL0V0cmFkZVBERlRpbWVvdXQuaHRtbCsvaW1hZ2VzaWduYWwvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true

    Amongst the major projects that the company anticipated, but are still delayed, are the following
    Vale – The Company has been waiting on the Vale corporate office to complete registration of part numbers against Austin products in Vale purchasing systems. The delay has been caused by changes within the Vale organisation handling the Austin contract and a major transition to a new enterprise management system. Vale has assured Austin that the first order will be issued before the end of June as the new system begins processing.
    The Vale contract Is a 3 year supply agreement and although the precise value of this contact is not predetermined, Vale has informed the company that the previous contract was for a total of USD 200 million and that the current contract will be split between two companies, with Austin receiving the larger part of the contract. Vale has confirmed that no orders have been placed with either Austin or the other supplier due to the above issues.
    ? Collahausi – A very significant contract for the supply of all new and replacement truck bodies and the maintenance of the entire truck body fleet. Site services will also be included. Collahausi is Chile’s second largest Copper mine and is planning a doubling of the mine over the next 2-5 years. The Company believes it will be awarded this contract soon but planning and administrative issues are delaying the finalisation of the agreement. The length of the contract will be a minimum of 3 to a maximum of 9 years
    ? Codelco –Chile’s major client deferred all tray replacement in March (usually 30-50 trays) until 14/15 financial year
    ? East Coast – Two major tenders have been submitted and subsequently negotiated over the last 6 months. Contract awards are expected in the next month
    ? Indonesia – Awaiting a major contract for a new mine. Austin believes it is likely to be the preferred supplier of over 20 trays
    ? Colombia – Awaiting awards of equipment for the Cobre Panama project ($5 billion mine)
    ? West Coast – Major clients of our operations had initially deferred scheduled production for one year, this has now been deferred a further 6 months. The West Australian operations have seen the biggest decline to prior periods
    A number of new 3 year contracts have been announced but these will have minimal impact on second half FY14 numbers as contributions will only impact 2 - 3 months in FY14. These contracts will have a full 12 month impact on FY15 and beyond.
    Commenting on the results Managing Director Michael Buckland stated “despite a good start to the second half and expectations of some major contracts the miners have continued to delay purchases of all equipment. This has now continued for 12 months despite maintaining or increasing production levels. Whilst equipment can be maintained for a period beyond its normal life, the costs increase rapidly making it uneconomical to keep persevering with repairs. We have seen an increase in the number of enquiries but as yet these have not been converted into orders.
    Based on its recently announced multi-year contracts and the expected award of new contracts, Austin is expecting to see a significant turnaround in FY15 compared with the forecast FY14 result, especially from January 15 onwards (excluding the contribution from VR Steel and other potential acquisitions).
 
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