NEWS ON CONSTRUCTION

Mining and construction contractor Macmahon had declared that it will move its mining business into the African market even if it does not take over Ausdrill Ltd which has a large interest in African mining. Macmahon has put forward an offer worth 442 million for the drilling services firm however Ausdrill has labeled the offer as inadequate. chief executive Nick Bowen declared that if Ausdrill was not interested in the offer than the company would go to Africa anyway and set up their business from scratch. In doing this Bowen claims that they can still achieve growth of 20-30 percent annually.

Sourced from:

http://business.theage.com.au/miner-on-verge-of-china-joint-venture-20080602-2kwq.html

0n 6/5/2008