News: EHL Emeco Holdings says fy net loss A$180.5 mln, page-17

Old Car yu seem to have the finger on the pulse with Emeco, can you enlighten me. Emeco merged/took over Andys earthmoving and big fanfare. Andy had just won Cudeco Roclands contract for mining. Then Emeco pullout and give back to Andy. Andy now forms new CoOz Mining Pty Ltd,buys all of Cudeco earthmoving gear and goes into business by themselves. Andy Hoare now mining away smiling from ear to ear.

Why would Emeco walkaway from a $250m mining deal, and then give back to the person they just took over. Im surprised no announcement on this and it should be considered material. Has to be a merky reason one would think. A bit of panic over something. Regulator needs to look into this if nothing said soon. Shareholders not informed. I m following up discussion on another site about this issue and thought someone here may now why this happened. Something smells bad. DYOR