Monday, 19 May 2008

Possible privatisation of State Ferries

In a move said to indicate the privatisation of Sydney Ferries – with its implication on the future of the RiverCat service to Parramatta – its former CEO, Chris Oxenbould, has been retained by Transfield Services, which is planning to bid for the service, according to The Sydney Morning Herald. Mr Oxenbould was also been a member of the government’s top-level steering committee responding to the Walker report, which recommended privatisation of the service.


A J Lucas considers CSM spin-off

Engineering company, A J Lucas, at Ryde, aims to take advantage of the increasing interest in Australia’s coal seam gas industry (CSM) with a spin-off, Lucas Energy. The company regarded as among Australia’s most experienced and comprehensive CSM service providers, boosted its shareholding, in January, to 15 per cent in Sydney Gas, which is operating at Camden and exploring elsewhere in the Sydney Basin and the Hunter region. Other key CSM assets are located in Queensland and Canada. The company, which listed on the ASX in 1999, has grown from $20 million in annual revenue to a forecast $450 million in 2008.