The Chairman of Emeco Holdings Limited, Mr Alec Brennan, announced today that Emeco Chief Executive Officer, Mr Laurie Freedman, has decided to step down from his role as CEO at a mutually convenient time later this year. Accordingly the Emeco board has commenced a search for a new CEO assisted by Korn Ferry International.

The directors of Emeco Holdings Ltd (ASX Code: EHL) are pleased to advise the appointment of Mr Robert ("Bob") Bishop as an independent non-executive director of the company.
Mr Bishop brings to his new role many years of operational and commercial experience at senior levels in Australia and overseas. He is a former Managing Director of Joyce Corporation Ltd (1989 to 1994) and Dorsogna Ltd (1994 to 1997). Most recently Bob was the Chief Executive Officer of the global mining and tunneling division of DYWIDAG Systems International GmbH (DSI), a position he held from 2003 to 2008.

Emeco Holdings Limited (ASX: EHL) today announced that as a result of continuing volatility across the global mining & construction industries, and a slower than expected recovery in utilisation, NPAT for FY09 is expected to be in the range of $56 - $60 million, being approximately 15% lower than FY08 earnings. 

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Emeco Holdings Limited (ASX: EHL) reported NPAT of $39 million for the six months ending December 2008, up 27.9 percent on the previous corresponding period. 

First half NPAT of $39.0 million, up 27.9% pcp
Operating cash flow including sustaining capex of $51.4 million
Free cash flow including growth capex and dividends of $5.4 million

Emeco Holdings Limited - 2009 Interim Results
1H09 Highlights

Operating revenue up 8% pcp contributing to record operating profit of $39.0m, up 27.9% pcp
Operating cash flow including sustaining capex of $51.4 million or 8.2 cents per share

Results for the half year ended 31 December 2008.

Emeco Holdings Limited (ASX: EHL) today issued a preliminary overview of its first half earnings to 31 December 2008 and provided an update to 2009 full year earnings guidance due to ongoing market volatility currently being experienced.