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Probiotec Limited (ASX:PBP) said the company has completed the acquisition of all shares in the Australian Dairy Proteins Pty Ltd (ADP) joint venture, which was established between Probiotec and Dairy Farmers Limited for the development and construction of a world-first fractionation plant.
Probiotec Limited (ASX:PBP) said the company has completed the acquisition of all shares in the Australian Dairy Proteins Pty Ltd (ADP) joint venture, which was established between Probiotec and Dairy Farmers Limited for the development and construction of a world-first fractionation plant.
Sydney, Jan 15, 2010 AEST (ABN Newswire) - Australian shares on Thursday rose on Rio Tinto's report on strong production and sales. The upbeat jobs data and rebounding Asian markets also helped to lift the market. At the close, the benchmark S&P/ASX200 index gained 29.9 points, or 0.6 per cent, at 4898, while the broader All Ordinaries index advanced 29.3 points, or 0.6 per cent, to 4929.4.

Key Economic Facts and Figures

Australian Bureau of Statistics (ABS) Thursday reported that the country's official unemployment rate fell from 5.6 to 5.5 per cent during December, much better than the economists' expectation of 5.8 per cent. Total employment rose by 35,200 to 10.906 million in December.

M&A News

Probiotec Limited (ASX:PBP) said the company has completed the acquisition of all shares in the Australian Dairy Proteins Pty Ltd (ADP) joint venture, which was established between Probiotec and Dairy Farmers Limited for the development and construction of a world-first fractionation plant to extract high purity dairy proteins from Whey (a by-product of cheese manufacture). Under the acquisition, Probiotec bought the 49.999 per cent of ADP shares it did not owned from Dairy Farmers.

Important Corporate News

Transfield Worley Services, as 50:50 joint venture between Transfield Services (ASX:TSE) and WorleyParsons (ASX:WOR), said that a Heads of Agreement has been signed with Woodside Energy for the proposed delivery of brownfield project and maintenance services. The agreement covers the delivery of brownfield project services to Woodside's offshore and onshore gas facilities for another four years.

Rio Tinto (ASX:RIO) has beaten its guidance for iron ore production and set a new record in sales of the bulk commodity, driven by continuing high demand from China. The mining giant reported a 49 per cent jump in fourth quarter global iron ore production compared with the corresponding period of 2008. Its global iron ore sales set a new quarterly record of 61 million tonnes (100 per cent basis). Its global iron ore production in 2009 exceeded 217 million tonnes (172 million tonnes on an attributable basis), a 13 per cent increase on 2008.

Coal & Allied Industries Limited (ASX:CNA) has reported a rise in coal production and sales for both the December quarter and 2009 year. Coal and Allied's share of coal produced in 2009 was 18.96 million tonnes, up from 18.61Mt in 2008. For the December 2009 quarter, the company's share of coal output was 5.28mt, compared to 4.74mt for the previous corresponding period.

Singapore Telecommunications Ltd. (ASX:SGT) (SIN:Z74) may sell around 25% of its Australian unit Optus through an initial public offering in Australia that could raise about A$4 billion, people familiar with the situation said Thursday. SingTel could use the proceeds to create a cash war-chest for acquisitions and expansion in markets outside Australia and Singapore.

Clime Capital (ASX:CAM) reported that the net tangible assets (NAT) of company is A$65.8 million or A$1.44 a share as at December 31 2009. It expects an interim, pre-tax profit of A$15 million for the half year to December 31 2009.

Related Companies

WorleyParsons Limited         
Singapore Telecommunications        
Rio Tinto Limited          
Probiotec Limited       
Coal & Allied Industries Limited       
Clime Capital Limited       
Broadspectrum Ltd        

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