Carnegie snatches victory from jaws of defeat

Perth wave energy developer, Carnegie Clean Energy (ASX: CCE) appears to have avoided oblivion after creditors approved a restructuring and recapitalisation plan to save the business. The plan, developed by KordaMentha Restructuring acting as administrators of Carnegie, will see secured creditors swapping debt for equity and the raising of $5 million. Unsecured creditors will likely…

Gupta’s Liberty steel play – BHP Steel writ large

Comment by Peter Roberts British businessman Sanjeev Gupta has announced a restructuring of his iron and steel making empire, using the very same strategy employed to build Australia’s steel industry, but on a global stage. As reported by @AuManufacturing, Gupta’s GFG Alliance is restructuring its UK steel and engineering assets, the Liberty Primary Steel works…

SEA Electric receives first US orders

Victorian electric truck drive train producer, SEA Electric has received its first orders from the United States following a successful public debut. CEO Tony Fairweather said feedback on the company’s products displayed on Ford and Isuzu platforms at the ‘Work Truck Show’ in Indianapolis and ‘Advanced Clean Transportation Expo’ in April had been favourable. He…