News
04/05/2010 Drivetrain to exhibit at the Queensland Mining & Engineering Show
Drivetrain Power and Propulsion is proud to be a part of the 2010 Queensland Mining & Engineering Exhibition. With an extensive history of being the market leader in the supply and service of Powertrain Components to the mining industry, Drivetrain has evolved into an organization destined to make its mark as a leader in the manufacture and supply of hydraulic hose and fittings.
Over the past several years Drivetrain has been recognized as a leader in the fluid conveyance industry working ...
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01/12/2009 Drivetrain Announces Agreement with Guascor Power SAU
Drivetrain Power and Propulsion (“Drivetrain”) recently announced it has entered into an agreement with Guascor Power SAU to represent Guascor Power Products in Australia.
The agreement with Guascor Power establishes Drivetrain as the sole distributor and official service workshop for Australian industry.
Drivetrain CEO, Glenn Parrett states that this agreement “… significantly enhances the company’s capabilities in niche areas of energy efficiency, co-generation, tri-generation, remote ...
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30/11/2009 CERT Launches Website
CERT recently launched their new website, providing a fresh new look for their online information that follows the Coote Industrial branding style.
Features of the new website include an Expression of Interest form, course schedules, information about nationally accredited modules CERT can offer, and more.
About CERT
CERT is a Registered Training Organisation (RTO) that provides responsive, flexible and innovative training, assessment and recertification services to the Australian ...
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21/08/2009 Drivetrain Reduces CO2 Emission at Maribyrnong Aquatic Centre
Drivetrain has recently signed an agreement with Maribyrnong City Council to supply Electricity and Heat to the Maribyrnong Aquatic Centre (MAC). The agreement will see the installation of a clean burning Natural Gas Fuelled Cogeneration plant which will provide about 74% of the Sites electrical needs and also deliver heat to the pools which would otherwise be wasted in conventional generation techniques.
Previously the facility relied upon grid supplied electricity and gas boilers to ...
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02/04/2009 Momentum Beresfield on the move
The team at Momentum Beresfield moved last week and are now settled in their new office and workshop premises at Thornton in the New South Wales Hunter Valley.
The new premise provides more office space for staff and a larger workshop area for the businesses fleet of trucks and equipment. ...
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02/03/2009 Half Yearly Report and Accounts
Coote Industrial Ltd recently launched it's Interim Financial Report for the half year to 31 December 2008.
The report includes a review of operations, key performance indicators, the trading performance of each business within the Coote Group, and expectations for the remainder of this financial year.
For further information, download the Interim Financial Report.
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27/03/2009 Industrial Powertrain Gets on Track
Industrial Powertrain (IPT) have broadened their horizons from their normal mining customers with a recent business deal to supply transmission and torque converter components for track maintenance vehicles housing Rail Flaw Detection (RFD) Systems to be used on Japanese railway lines.
The RFD system uses ultrasonic beams to check for cracks and weaknesses in railway tracks and has been designed and engineered by Fairclough Corporation Pty Ltd in Joondalup. Fairclough have supplied 3 ...
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15/12/2008 Ford Q1 Awarded to Drivetrain Australia
DRIVETRAIN Power and Propulsion is pleased to announce the receipt of the Ford Motor Company’s highest recognition for supplier quality, the prestigious Q1 Award for it’s Hallam operations in Melbourne, Victoria.
Ford's Q1 Award recognizes supplier operations that demonstrate manufacturing excellence, superior quality, and continuous improvement.
Drivetrain CEO, Mr Glenn Parrett acknowledged the commitment by staff to ensuring customer service and product quality levels were of the highest ...
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25/11/2008 Coote Industrial AGM
The Coote CXG Annual General Meeting was held on the 25th November 2008 at the Burswood Convention Centre. Chairman, Donald Hector opened the AGM with an overview of Coote Industrial’s performance during the 2008 Financial Year before handing over to Managing Director, Mike Coote for a comprehensive review on the company’s performance, strategies, and future objectives.
View the AGM Presentation.
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29/01/2009 Gemco Joint Ventures
Gemco Rail entered into a joint venture with China Southern Railways for the supply of 25 ballast wagons for the Fortescue Metals Group (FMG).
Gate discharge systems were made by Gemco Rail in Perth, WA and sent to China for wagon fitting.
The final hydraulic and electrical fit out is being performed by 7 of Gemco Rail’s employees on-site in Port Hedland, WA.
The project is set for completion by the end of February.
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05/12/2008 Ausrail 2008 Conference
Momentum exhibited at the Ausrail 2008 Conference in Melbourne on the 1st and 2nd of December, 2008.
The purpose of our stand was to raise awareness of the Momentum brand within the rail industry and promote our 3 service areas - recruitment, technical services and supplementary labour hire.
The Momentum management team was all in attendance at the conference alongside representatives from companies such as Laing O’Rourke, Downer EDI, Lockheed Martin, ARTC and many more.
Momentum’s ...
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29/08/2008 Coote Industrial Limited announced a full year Net Profit after Tax of $23.831m*
Technical service provider Coote Industrial Limited (ASX: CXG) today announced a full year Net Profit after Tax(NPAT) of $23.831m*. The result is up 191% on the FY07 NPAT of $8.174m. This strong FY08 profit result was derived from revenue for the year of $347.893m (FY07 $69.416m). Earnings per share (EPS) increased by 20%from 17 cents per share to 21 cents per share on a fully diluted basis. Coote Industrial directors have declared a final, fully-franked dividend of 6 cents, ...
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16/10/2008 Hedemora unites its extensive resources to support Gardline
Many of Hedemora’s mechanical and electrical technicians and engineers spent much of September in ships’ engine rooms around the country.
The Hedemora Sydney team was busy performing major maintenance on various propulsion and electricity generation engines in a navy ship in Newcastle. Up to 16 of Hedemora’s qualified technicians and engineers worked on the vessel at any time. Hedemora’s engineers subsequently assisted with the sea trials.
In Western Australia a combined team of qualified ...
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23/07/2008 Coote Industrial in Alliance with Progress Rail Services
Coote Industrial limited (ASX : CXG) today announced the signing of an exclusive Australian Distributor Agreement with Progress Rail Services Corporation, a wholly owned subsidiary of Caterpillar Inc – the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
As part of the agreement, Progress Rail will provide Coote Industrial with exclusive supply chain access to certain locomotive / railcar parts and rebuilds, as ...
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04/04/2008 Coote Industrial Purchase of Bucks Rail Welding
CXG acquires Bucks Rail Welding assets for $4.25m
Leader in rail track welding niche market
Earnings accretive for CXG
NPAT multiple of 5.5x
Coote Industrial Limited (ASX: CXG) has agreed to purchase the assets of Bucks Rail Welding, a New South Wales based specialist rail track welding business for $4.25M. The purchase further extends Coote Industrial interests in rail services; an industry benefiting from renewed government investment in rail infrastructure and increased demand from ...
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22/01/2008 Coote Industrial (CXG) Option over Rail Technincal Support Group
Continuing focus on expanding national rollingstock services
Performance based acquisition criteria
Acquired out of operating cash flow
Earnings expected to be accretive from Exercise date
Coote Industrial Limited is pleased to announce it has entered into a Call and Put Option Deed toacquire Rail Technical Support Group (RTSG).RTSG is a specialist locomotive rebuilder and maintainer owned by principal, Peter Kemp. The company operates from locations at Parkes and Broken Hill in New South ...
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21/01/2008 $21m Rollingstock Purchase
Coote Industrial Ltd is pleased to announce that it has completed a number of rolling stock asset purchases for a total of $21m, facilitated by the company’s $70m November 2007 capital raising. The assets, which include 51 diesel-electric freight locomotives and 262 wagons, unlock two key areas of potential for Coote Industrial:
Reduced reliance upon hired capital equipment. Coote Industrial will now tap the strong capability within its Rollingstock Services Division to deliver efficient, ...
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22/10/2007 Coote Industrial Acquires Drivetrain
Significant expansion of Coote Industrial’s Australasian and South-East Asian footprint
Continues strong SERVICE focus in Mining, Marine, Defence and Heavy Transport with strong barriers to entry
Highly complementary to recent acquisition Industrial Powertrain and the Engineering Services Division
Earnings accretive for CXG
Coote Industrial is pleased to announce that it has executed a Share Sale Agreement to acquire 100% of Drivetrain Australia.Drivetrain specialises in heavy off-road ...
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