As part of the restructure the number of business units has been cut from five to three.
Mobile Plant, which was formerly known as Mining and Transport will continue to be led by executive general manager Brad Ward.
Mining Fixed Plant grows out of what was Bradken’s mineral processing and fixed plant businesses. It will be led by Craig Lee who has been appointed acting-executive general manager Mining Fixed Plant. A search is being conducted for a full-time leader of that business.
Engineered Products, which is based in North America, will focus on highly engineered and complex parts for energy, defence and industrial customers. It will continue to be led by executive general manager, engineered products Kevin McDermed.
Bradken chief technical officer John Saad is heading support functions focusing on quality, innovation, productivity and procurement across all operations.
Andrew Allen has been appointed to head the Supply Chain support function. He has become general manager Supply Chain.
Zuckerman said he would refocus Bradken’s human resources function on high performance and change management and create a separate safety leadership position.
A search is to start for a general manager – people & communications and a general manager – health and safety. Both of those people will report to Zuckerman.
Steven Perry will continue as Bradken chief financial officer and will take on additional leadership responsibility for various corporate services including information technology.
“The creation of these global functions will enable best practice to be identified and shared group wide as we work together as ‘One Bradken’,” Zuckerman said.
As a result of the structure Stephen Cantwell, Wayne Herbertson and Enda Sheridan will not be part of that “One Bradken”. Instead they will be leaving the company.
Bradken’s underlying earnings before interest, tax, depreciation and amortisation for the six months to June 30 is expected to be more than the $51.9 million reported for the six months to December 31.
The company is expecting a total underlying EBITDA for the fully year of about $108 million.
Net debt at June 30 was about $350 million, down about $50 million from the same time last year.