Transpacific confirms talks with potential investors

By: Chris Smith


The future of Queensland-based Transpacific Industries could soon become clearer, with the MAN Australian distributor, meeting with "potential investors". In a

The future of Queensland-based Transpacific Industries could soon become clearer, with the MAN Australian distributor, meeting with "potential investors".

In a statement released to the ASX, Transpacific announced discussions with the company's banking syndicate were also underway and included the waiver of the breach of USPP covenant which was announced after the company’s half-yearly results presentation.

Management presentations have been held with interested investors and a data room has been set up for interested parties,.

TPI announced a half-year profit after tax but before significant items of $62.9 million for the period, which was down 18 percent from the corresponding period in 2007.

Company Secretary Kellie Smith pointed ABC to the ASX announcement but says no other information can be disclosed.

"There is no further information on this process that can be provided other than that we are continuing our discussions with potential investors," she says.

The company is voluntarily suspended from trading on the ASX, pending the outcome of the discussions.

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