Emeco Holdings
(ASX:EHL) has announced its completed the recapitalisation and mergers with Andy's Earthmovers and Orionstone Holdings.
The earthmoving equipment company says its pro forma adjusted 2016 financial year EBIDA will be $110 million, while it will have also significantly enhanced its capital structure.
The company will now have about 730 machines in its fleet with a leading position that will further benefit from improving market conditions.
Emeco says it will use its enhanced position to increase productivity and reduce costs, which will add shareholder value.
Shares in Emeco Holdings
(ASX:EHL) closed 1.19% lower yesterday to 8.3 cents.
