HWE 0.00% 49.5¢ henry walker eltin group limited

$35mln contract with patrick corp

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    ASX Release
    Henry Walker Eltin
    Group Limited
    ABN 79 007 710 483
    33 Paul Street North
    North Ryde
    New South Wales 2113
    61 (0)2 9887 6400
    61 (0)2 9887 6352
    Friday 26 March 2004 Henry Walker Eltin back in Queensland with $35 million civil contract The ongoing uplift of Henry Walker Eltin’s civil business has continued with the award of a $35 million construction contract with Patrick Corporation and the Brisbane Port Corporation for the new Brisbane container terminal development. The 15-month contract finalised this week is for the construction of civil infrastructure and associated works for the new terminal at Fishermans Island berths 8 and 9. HWE Civil’s scope of works will comprise construction of a new paved container storage area totalling 200,000 square metres and associated earthworks, drainage, electrical, lighting, water and fire services, landscaping, and miscellaneous structures, road furniture and fencing. The contract is part of Patrick Corporation’s $100 million expansion of its current port operations at Fishermans Island to meet the state’s growing long-term trade needs. Over the next 12 months, Patrick Corporation, together with the Port of Brisbane, will build the world’s first semi-automated terminal comprising three new shipping berths. It is anticipated the new terminal will handle 500,000 teu (20 foot equivalent unit) per annum, with provision for ongoing expansion that will eventually lift the terminal’s capacity to 800,000 teu each year. The new maritime project, to be completed by May 2005, is a significant win for Henry Walker Eltin’s civil business as it signals the company’s re-entry into the Queensland construction industry. Henry Walker Eltin Chief Executive Officer and Managing Director Bruce James said “HWE Civil is a well established player in its traditional Western Australia and the Northern Territory markets, but has struggled to penetrate and gain momentum on the eastern seaboard. It’s very pleasing that in recent months our civil business has strengthened its presence in its traditional markets and at the same time extended its growing capabilities to new markets such as the Queensland maritime infrastructure industry.” “Our targeted earnings lift for the business is now well in sight and HWE Civil is poised to realise the full benefits of its major restructure and repositioning program.” - ENDS - For further information contact: Kate Shea General Manager, Corporate and Investor Relations Phone: (02) 9887 6417 Mobile: 0412 975 080
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