VDM GROUP LIMITED
VMG - VDM Group Awarded a 5-year $20 Million Ore Haulage Contract with BHP - Mr John Farrell, CEO
Tuesday, 2 September 2008 10:30am
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Mr John Farrell
Tue, 2 Sep 2008
10:30am Australia/Sydney
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VDM GROUP LIMITED (VMG)
ASX code: VMG
Website: http://www.vdmgroup.com.au
Industry: Capital Goods
Principal Activities:
VDM Group Limited, with Head Office in Perth and representation in Queensland, Victoria, NSW, NT, Vietnam and Dubai is a fully diversified Group broadly represented by Consulting, Construction and Infrastructure divisions. An integrated, multi-discipline approach embraces every conceivable engineering field including civil, structural, mechanical, environmental and infrastructure contracting.
Address:
, , 310 Selby Street North,
OSBORNE PARK
WA
Phone: 08 9241 1800
Fax: 08 9241 1999
Executives & Directors
Mr John Saleeba , Non Exec. Chairman
Mr Ken Perry , CEO
Mr James (Jim) van der Meer , Executive Director
Mr Ross Kestel , Non Exec. Director
Mr Barry Nazer , Non Exec. Director
Mr Michael Perrott , Non Exec. Director
Mr Len Troncone , CFO
Ms Nevenka Jackson , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
VDM GROUP LIMITED (VMG) Events
Australia/Sydney
VDM GROUP LIMITED (VMG)
| Change of Director`s Interest Notice | Wed, 17 Mar 2010 |
| SandP Announces March SP/ASX Index Rebalance | Fri, 5 Mar 2010 |
| Half Yearly Report and Accounts | Fri, 26 Feb 2010 |
| Announcement of Half Year Results | Fri, 26 Feb 2010 |
| Half Year Results Presentation | Fri, 26 Feb 2010 |
| Change of Director`s Interest Notice | Fri, 5 Feb 2010 |
| VDM Group Appoints New CEO | Mon, 1 Feb 2010 |
| Interim Earnings Update | Fri, 29 Jan 2010 |
| VDM Group Acquires Minority Interest in Cape Crushing | Thu, 14 Jan 2010 |
| Appendix 3B | Thu, 14 Jan 2010 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH JOHN FARRELL, CHIEF EXECUTIVE OFFICER OF VDM GROUP LIMITED (VDM)
“VMG - VDM Group Awarded a 5-year $20 Million Ore Haulage Contract with BHP”
http://www.brr.com.au/event/50823
TUESDAY, SEPTEMBER 2 2008, 10:30 PM.
BRR Good afternoon and welcome to Boardroom Radio. Today, I’m joined by the Chief Executive Officer of VDM group, Mr. John Farrell. John, thanks for
10 joining us today.
VDM Good afternoon.
BRR John, just out on the market today, there’s some very strong news from your Perth by subsidiary, the Cape Crushing and Earthmoving Contractors, with
15 the winning of a new contract. Could you tell us the details of this?
VDM Yeah, well it’s new to the extent that we’ve only just formalized the arrangements, but in fact the Cape had been working for this client on the beginning of these two projects for sometime, but they have been now formalized into long-term contracts, but we’ve been doing haulage work for
20 the client (inaudible) (0:00:38) for about 12 months at a lower scale and (inaudible) (0:00:42). So yeah, it’s great because rather than working month to month or year to year, we’ve now got long-term contracts which is a bit unusual for VDM group and its companies, but it locks in about a third or more than a third of Cape’s annual revenues in these two longer term
25 contracts.
BRR John, for listeners, shareholders and potential investors that might not know the full details about Cape Crushing and Earthmoving businesses, could you give a bit of detail about the business?
30 VDM Cape is one of our early acquisitions. We bought the 75% shareholding we own just after we listed back in 2006. The other 25% is retained by the Managing Director, Mike Heddon. Of course, we have pre-emptive rights over his shareholding if we choose to acquire it. It’s a business that in the time that we have earned it or the majority share of it has continued to grow, it’s
35 primarily focused on the gold industry and it works in and out and around (inaudible) (0:01:50) and goldmine areas close to that. It’s been a very solid performer from the time that we made our acquisition and in the last 12 months it has had very strong organic growth and that’s forecast to be significantly greater in 2009. It was not an easy business to acquire in the
40 sense that it is in a very specialized area and we didn’t know too much about it. But essentially, as the name implies, it is in contract crushing as I said mainly for the gold industry, but because of the crushing, it has moved in to general earthmoving, tilings, ponds, road-based road construction and the like. And perhaps most importantly, Mike would be angry if I didn’t make the
45 point, it’s probably got the best safety record of any company ever in the resources sector. It’s just come up to 13 years of LTIs. That is no lost time incidence. So that’s an unbelievable record. Most companies if they get 12 months, two or three years without an LTI, they are very, very happy, but to have 13 years in an industry where the working conditions are difficult, it’s an unbelievable achievement and it’s a real testament to Mike and his team. So it’s a company we’re very proud of. We’re very lucky that we’ve got a very hard working partner and it continues to grow and this contract is just a function of that.
5
BRR Alright John, well certainly really positive news for this long-term contract and we look forward to hearing further developments from the VDM Group in the near future.
VDM Yeah, thanks very much.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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