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1.Market Observations, 5.Troubled companies

26 Jun 2014 (TheAge) – Aurizon cuts harder and deeper as resources slump weaken demand for haulage

(26 June 2014, The Age, BusinessDay, p24, Jenny Wiggins)

‘Aurizon has launched a fresh round of cost cutting, getting rid of more jobs and locomotives and postponing rail projects as the resources slump weakens demand for its haulage services.’

‘Aurizon chief executive Lance Hockridge said the company needed a comprehensive response to the subdued resources outlook as he outlined up to $160 million in extra pre-tax write-downs for fiscal 2014 on top of some $222 million of write-downs announced six months ago.’

‘Aurizon has slashed…’

Read more at TheAge.com.au

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