Transfield Services Confirms FY09 Guidance Following Results of Impairment Testing
Wednesday, 29 July 2009USM parent company, Transfield Services, announced yesterday that its full year results would be impacted by an impairment charge of A$168 million (US$135 million) on a pre-tax basis. The impairment charge is attributable to the deterioration in economic conditions and higher risk premiums specific to the North American subsidiary USM. USM responded by implementing initiatives to improve operating efficiency and client services, ensuring USM is well positioned to respond to improvements in the US economy.
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USM is part of the Transfield Services Group. Transfield Services delivers essential services to key industries in the resources and industrial, property and infrastructure sectors. A leading global provider of operations, maintenance, and asset and project management services, Transfield Services has more than 28,000 employees in Australia, New Zealand, the United States, the United Arab Emirates, Qatar, New Caledonia, South East Asia, India, Chile and Canada. Transfield Services Limited is listed on the Australian Securities Exchange. www.transfieldservices.com