Friday, October 24, 2008

Ferry Operators Finding it Harder to get Financing

"Over 100 Austal workers made 'redundant'"
23-October-08 by Rebecca Lawson

"Austal Ltd managing director Bob Browning said there are no plans for further staff cuts after the company laid off over 100 workers at its Henderson, Australia shipbuilding facility...

Mr Browning said the global economic turmoil had delayed the decision making process for its customers, mainly ferry operators, which were finding it harder to get access to finance.

...Meanwhile, Mr Browning said the company's US arm, which focuses on the country's military, was going well.

He added the US division should hear from a couple of large contracts over the next few months."

Aloha, Brad

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