Watpac reduces debt

WATPAC has repaid $32 million in plant and equipment funding from its Mining and Civil business as part of a capital management strategy to stay in the clear during the downturn.

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Watpac has repaid $32 million in equipment funding to strengthen its balance sheet.

Watpac’s on-balance sheet equipment finance debt now totals about $33 million, which Watpac managing director Martin Monro said represented less than 25% of the current carrying value of group’s