Dickie Dique

Engineering and construction company Decmil has replaced Scott Criddle as chief executive, amid a $29 million write-down of its Homeground Gladstone accommodation village in Queensland and the launch of a $40 million capital raising.

Shares in Decmil dropped by more than 50 per cent today after the engineering and construction company completed a heavily discounted rights issue, which is part of a broader $50 million capital raising plan.

Contractor Decmil has received some rare good news, with a subsidiary being named as the preferred proponent for the $175 million Albany Ring Road.

Moves to sharpen procurement will speed up delivery of infrastructure, with more than $2 billion of road and rail work soon to be contracted.

Contractor Decmil has posted a $140 million loss for the 2020 financial year, primarily due to the earlier termination of a major contract with the New Zealand prisons department.

Decmil has announced it will undertake $41 million of miscellaneous infrastructure works at Fortescue Metal Group’s Iron Bridge magnetite project.

Decmil Group has secured further work at Rio Tinto’s Robe Valley operations in the Pilbara to supply heavy and light vehicle facilities.

Decmil Group has secured $51 million in work on a windfarm in Victoria, as part of a larger contract awarded to its joint venture with RJE Global.

Valmec has won a major asset services contract, while Centurion has secured mine site works in Queensland and Decmil has been named preferred contractor for a Victorian rail project.

Perth-based Decmil Group has added $140 million to its order book after securing the works to upgrade a rail line in Victoria, as part of a consortium.

Shares in Decmil have lifted 6 per cent after the Perth company announced its second contract win for the year, for works on a major highway in Queensland.

Osborne Park-based Decmil Group has cited delays in the awarding of contracts and project starts in lowering its full-year revenue guidance, but predicts a stronger result in fiscal 2022.

Contractor Decmil Group has secured new work, including with Main Roads Western Australia, totalling $47 million.

Osborne Park-based Decmil Group has narrowed its earnings forecast for the full financial year while flagging a $9.7 million write-down of a contract.

Local engineering and construction company Decmil Group is raising up to $32 million to begin work on a number of new projects.

Decmil Group has settled a dispute with New Zealand’s prisons department in relation to a previous $NZ185 million contract that was terminated.

Decmil Group has secured work on a windfarm in NSW, as part of a broader contract awarded to its joint venture with South Australia’s RJE Global.

Osborne Park-based Decmil Group has been contracted to build a bridge over BHP’s Yandi rail line and complete road restoration works in the Pilbara.

Decmil Group has won a contract from the Victorian government to complete road upgrades at the coastal town of Barwon Heads.

Osborne Park-based Decmil Group has been selected to build a new community centre at Port Hedland, with its contract worth $18.1 million.

Contractor Decmil has completed its works on the Sunraysia solar farm in NSW, which were at the centre of a legal dispute with part-owner Maoneng Australia.

Shares in Decmil fell 11 per cent after posting a $3.9 million loss for the half-year, alongside a lift in revenue, as the company picks up more work but grapples with labour availability and contract disputes.

Decmil Group shares fell after flagging likely lower revenues, a loss and the resignation of its chief executive, Dickie Dique.

Decmil has appointed civil contracting executive Rod Heale to the top job following the resignation of Dickie Dique last month.

Decmil has further reduced its expected revenue but is set to bounce back in the new financial year, ending a difficult few months by announcing $137 million in new contracts.

When administrators from Deloitte walked into the West Perth offices of WBHO Infrastructure in February, they knew speed would be critical to rescuing the business.