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DOWNER EDI LIMITED — Capital/Financing Update 2011
Aug 2, 2011
64784_rns_2011-08-02_a729ef6c-9e35-49c9-bb41-c4553926ac24.pdf
Capital/Financing Update
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Media/ASX and NZX Release
3 August 2011
REVIEW OF CPG CONSULTING BUSINESSES
Downer EDI Limited (Downer) announced today it was conducting a review of its general consultancy practices – CPG Asia, CPG Australia and CPG New Zealand – as part of its ongoing focus on optimising the Downer Group portfolio.
The review will include the potential divestment of these businesses.
The Chief Executive Officer of Downer, Grant Fenn, said that earlier this year Downer had consolidated its Australian Engineering, Works, Emerging Sectors and CPG Resources businesses (including QCC and Mineral Technologies) into one division, Downer Australia.
“The review of CPG Asia, CPG Australia and CPG New Zealand is part of our ongoing drive to focus and streamline the business,” Mr Fenn said.
“CPG Asia, CPG Australia and CPG New Zealand are valuable consultancies with expertise in a number of important sectors and geographies. We have been approached by parties interested in acquiring these businesses and, because these firms operate relatively independently of the other divisions, we have decided to consider the divestment option.”
Mr Fenn said this review did not include the resource-focused consultancy businesses, Snowden, QCC and Mineral Technologies.
Downer will provide an update to the market when the review is complete.
CONTACT DETAILS
Investors: Ross Moffat, EGM Investor Relations M: +61 412 256224 Media: Michael Sharp, Group Head of Corporate Affairs M: +61 439 470145
Downer EDI Limited (www.downergroup.com) provides comprehensive engineering and infrastructure management services to the public and private Minerals & Metals, Oil & Gas, Power, Transport Infrastructure, Communications, Water and Property sectors across Australia, New Zealand, the Asia Pacific region and the United Kingdom.
A Triniti Business Campus, 39 Delhi Road, North Ryde NSW 2113 P PO Box 1823, North Ryde NSW 2113 T +61 2 9468 9700 | F +61 2 9813 8915 | W downergroup.com
Downer EDI Limited ABN 97 003 872 848