Top Shares News Bradken (BKN)

Top Shares News Bradken (BKN)|ASX BKN|BKN StocksBradken (ASX:BKN) is a leading supplier of consumable parts, capital equipment and associated maintenance and refurbishment services to the resources and freight rail industries.

The company’s five divisions are mining products, rail, power and cement, engineered products and industrial.

BKN suffered from a volatile environment over 2008, as the commodities bubble burst and the market worried over demand for BKN’s services.

BKN has seen signs of improvement in 2010 on a turnaround for miners and iron ore prices, improved order intake levels and strength in its Rail division.

Shopping spree

Bradken (BKN) announced two acquisitions for a total consideration of $222 million.

BKN expects the acquisitions to deliver $28 million of additional EBITDA in FY12.

The company will fund the acquisitions from current cash and debt facilities.

The move is in line with BKN’s strategy of globalising its consumable products businesses and building a substantial presence in the world’s major mining regions.

BKN shares finished the day of the announcement up 4%.

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