Newbold Wins Entrepreneur Award
Strategic Marine chairman and founder Mark Newbold has won an Ernst & Young Australian Entrepreneur of the Year Award. Mr. Newbold, whose shipbuilding company has its headquarters at Henderson in Western Australia, took out the national Entrepreneur of the Year Award in the Products Category at a black tie event on Nov. 27 in Sydney. Mr. Newbold founded Strategic Marine in 2001 with the goal of building a shipbuilding company with manufacturing operations across the world. Seven years later…
Newbold in Entrepreneur Finals
Mark Newbold, who qualified for the finals after winning the western region’s Entrepreneur of the Year Award in the products category, established Strategic Marine in 2001 with the goal of launching a global shipbuilding company. His company now employs around 1,800 staff at its shipyards in , , and , and has signed more than 120 orders worth over US$230 million in the past year alone. “It is personally gratifying to win this award,” said Mr Newbold. “But it is important to realise that the company could not have achieved this in such a short space of time without the whole-hearted support of my fellow-Directors, our senior management, Strategic Marine staff and their families. “I pay tribute to everyone who has contributed to this success,” he said.
Mermaid Marine to Merge with P&O Maritime Services
Mermaid Marine Australia Ltd will merge with Dubai Ports World subsidiary P&O Maritime Services Pty Ltd through a share-trading arrangement. Mermaid will issue 221.9 million shares to DP World in return for 100 per cent of the shares in P&O Maritime Services Ltd and P&O Polar Australia Pty Ltd, subject to shareholder approval. The deal will result in DP World owning 60.4 per cent of Mermaid, with existing shareholders holding the remaining 39.4 per cent. Mermaid will also assume an additional $40 million of net debt initially in the form of debt due to DP World as part of the transaction. Mermaid directors said in a statement that the proposed merger would create a highly attractive business diversified across a range of maritime services…
Australian LNG Exports to Increase
The output from an expanded Australian North West Shelf is a major driver in the forecast 48 percent increase in LNG exports to $4.7 billion this year, according to a WA Business News report. The increase in LNG exports is drawing on higher output from the NWS's fourth LNG train, as well as the start up of the new Darwin LNG plant in 2006. Source: WA Business News
