Bradken/Norcast dispute settled

Bradken’s has announced that it and two of its directors have resolved a dispute with Norcast over bid-rigging.

The terms of the resolution are confidential and an undisclosed settlement has been paid to mining parts company Norcast.

The Australian reported last Wednesday that the Federal Court was due to hear the case today, but Bradken and Norcast approached the court with a settlement proposal.

Meanwhile, Bradken has released its earnings guidance for the first half of the financial year, with a predicted EBITDA of around $85 million, down from $105 in the corresponding period a year earlier.


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