Bis welcomes new long-term finance facilities and signals a strong start to FY23
Leading Australian resources logistics provider, Bis, today announced the completion of a successful refinancing of its senior debt which paves the way for a focus on operational execution in FY23.
The finalisation of the refinancing follows a particularly successful 12 months of growth for the company, with the addition of five new contracts across WA, Queensland and New South Wales.
Bis Chief Executive Officer, Brad Rogers, said the outcome is aligned to the business’ overall business focus for the coming years.
‘I welcome the support from both new and existing investors, including Bis’ shareholders, who worked collaboratively with us during the process. Their confidence in Bis and our position as a market leader is appreciated.
‘The conclusion of this process provides us a clear runway to focus on the execution of our strategic goals over the coming years.’
The goals include a particular focus on helping customers unlock even more value from their operations and commercialising the company’s exciting innovation portfolio.
‘We are an operating business at our core. We are experts in working with customers to safely maximise their productivity.
‘Over the last few years, we have also been very successful in creating an award winning portfolio of proprietary products and services – like Rexx, Razor and Auto-mate. Collectively they provide enormous potential for the productivity, safety and efficiency of our customer’s operations.
‘Our innovation focus in the next period of time will be to commercialise our innovation portfolio at scale. It is very exciting.’
Bis capped off the 2022 financial year by winning a new bauxite haulage contract in Gove, NT for Rio Tinto.
Earlier in the year, Bis extended and expanded its haulage operations at Roy Hill’s mine in Western Australia, bolstered its presence in Queensland’s Bowen Basin region with new contracts with Stanmore Resources and Anglo American and embarked on a new multi-year on-road contract for Hunter Valley Operations in New South Wales.