Bradken sheds two business units

Company News

by David Chau

Bradken Ltd (ASX:BKN) has announced that it has restructured its business model and executive management team.

Bradken is a global supplier of differentiated consumable and capital products to the resources, energy and freight rail industries.

Under its recent strategic review, Bradken will shed 2 business units, and now have 3 business units. They are: Mobile Plant, Mining Fixed Plant and Engineered Products (the last of which will be based in North America).

The company also expects its underlying EBIDTA to exceed $51.9 million for the six months ending 30 June, and its audited financial results will be out on 23 August.

Bradken reported a net loss of $168 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.