24th April 2024 Last week Dr Paul Dalgleish was invited to Fiji, to introduce the GreenyHy2 Advanced Technology Hydrogen Battery to the Director of Energy, Mikaele Belena. ​ Ellen Whippy-Knight from GreenViti and GreenHy2 organised an event in Suva where GreenHy2 Launched their low operating cost Micro-grid solution to business, NGOs and Government guests. ​ Ideal to alleviate Fiji's reliance on diesel and Li batteries and a safe way to bring 100% renewable energy to remote communities in hot climates where the Solid State Hydrogen Battery significantly outperforms Li Ion with up to 30 years of life and no loss of capacity. Recent failures of newly installed Li Ion Batteries by fire, in Fiji and other locations, would be a thing of the past.

Dr Paul Dalgleish with His Excellency Ratu Wiliame Maivalili Katonivere the President of the Republic of Fiji and Ellen Whippy-Knight, discussing hydrogen storage.

29-31st August 2024 GreenyHy2 and Greentech Pacific, joined forces at the Fiji Australia Business Council joint conference with the Australia Fiji Business Council in Suva. 'New Challenges, New Solutions' was the theme of the conference where Ellen Whippy-Knight and Dr Paul Dalgleish introduced the benefits of solid-state hydrogen storage to remote island communities and island resorts in Fiji.  ​ The H2G battery solution solves the old problem for remote communities of a reliance on diesel as well as providing a safer longer-lasting alternative to lithium batteries for storing renewable energy. Ellen Whippy-Knight interviews Dr Paul Dalgleish on how remote communities in Fiji can be powered 24/7  with renewable energy, alleviating a reliance on diesel for power.

He may not have the profile of AFL veteran Eddie McGuire, but RCR Tomlinson chief executive Paul Dalgleish, who also hails from Broadmeadows, has led his own team to a medal-worthy performance. article by: He may not have the profile of AFL veteran Eddie McGuire, but RCR Tomlinson chief executive Paul Dalgleish, who hails from the same Melbourne working class suburb of Broadmeadows, has led his own team at the contract engineer to a medal-worthy performance. Broady boy does it again was the title of the research note RBC Capital Markets analyst Heath Andrews wrote after RCR boosted its revenue 49 percent to $1.3 billion in the year to June and increased its earnings before interest and tax margin to 7.7per cent in the second half from 6.2 per cent in the first. At a time when engineering companies, like the construction economy in general, are trying to pivot away from resources to infrastructure and residential work, Dalgleish pulled off a dream run with the integration of infrastructure specialist Norfolk Group that it acquired last year. Infrastructure revenue soared six-fold to $726.9 million from just $119.4 million, even as resources revenue dropped 28 per cent to $444.5 million. EBIT margins in the infrastructure division rose to 4.9 per cent in the second half from 3.5 per cent in the first. It was a result that made RCR Tomlinson a serious contender for the best result in the sector and only highlighted the error of Dalgleish’s omission from the local Hume Leader’s recent list of Ten of Australia’s best who call Broadmeadows home, Mr Andrews said. “Even though the MD failed to register on the recent top 10 influential people from Broady reported in the press, the result has delivered and we see re-rating potential," he said. “Management has demonstrated its ability to engineer a turnaround at both the original RCR business and subsequently the acquired Norfolk business, which has lead to the management team being rated by the market, in our opinion. As such, we have increased our FY2015 EV/EBITA valuation multiple assumption to 7.5x from 7x. Our EV/EBITA multiple valuation is now $3.68 (from $3.18)." Concerns over price The $78 million acquisition of Norfolk Group, a serial underperformer, was a mouthful for RCR, which in June last year had a market capitalisation of only $305.9 million. There were concerns the company had overpaid at the time, prompting one analyst, Bell Potter’s Jonathan Snape , to cut his recommendation to Sell from Hold. Since then Dalgleish has cut costs and boosted revenue. There are still more costs that can be cut from the former Norfolk businesses as they are further integrated into RCR, Dalgleish said last month. But not even RCR is immune to fate. It is an engineering contractor trying to distinguish itself from the contractor crowd by adding more consulting services to its offering, but it is just as subject to the vagaries of the market as any of its rivals. That was driven home last week when the Inner Link consortium, of which the company was part, lost out to rival grouping East West Connect as preferred tenderer for the Victorian government’s 18 kilometre East West Link road and tunnel project. As recently as last month, the company had specified the East West Link as one of a number of projects it was targeting. RCR faces the difficult task of continuing its transformation in a challenging and increasingly competitive market, says analyst and Morgans director of research Roger Leaning . Difficult market “They’re in a difficult market, a challenging operating environment and trying to turn around – which they have been doing successfully to date – an underperforming business in Norfolk, which requires investment and restructuring, which has costs attached," Mr Leaning said. “It’s a lot easier to do that in a growing market, but when they’re trying to consume those costs and the restructuring and the management distraction in a market that is tough and competitive, it doesn’t need a lot to go wrong to impact margins. That’s the risk." In addition, the company risks being a victim of its own success, expecting that the improvements seen to date will be repeated. With the company about to face a higher tax bill as it loses the benefit of the R&D tax credit it has enjoyed, Macquarie analyst Andrew Wackett already expects earnings per share in the current financial year to fall from the recent 38.1¢, although he expects it to move higher again next year. But the biggest risk to the business comes in the way Dalgleish is so intimately linked with the company’s improvement, Leaning says. Earnings per share have risen each year since Dalgleish started in the job in May 2009. While many companies can be subject to key- person risk, RCR is perhaps more exposed to it than most. The company says its three divisions infrastructure, energy and resources – are run by senior and experienced individuals. The risks remain, however. “He’s the key driver in this business," Leaning says. “For the success of this business, at least in near-to-medium term, he will be a key component of that. “From a market point of view, God forbid, if he got run over today, you could see a market reaction that was fairly negative to the share price." It’s a dubious distinction - not to mention a dilemma - that Dalgleish’s home boy Eddie McGuire can be glad he doesn’t share.

The West Australian Thu, 24 February 2011 11:14AM Heavy industrial engineering company RCR Tomlinson has posted a 5.2 per cent increase in first half profit to $6.9 million. ​ The result was achieved on revenue of $300 million, up 12.9 per cent on the previous period. ​ RCR noted its EBIT of $11.1 million was up 127 per cent on the $4.9 million reported for the six months to December 2009. ​ RCR's chief executive Paul Dalgleish said the result reflected improvements in the underlying operation of day to day activities at the company. ​ "The results have been achieved through a committed focus on improving project returns, reducing overheads and capitalising on increased operational efficiency," he said. ​ "Operating margins have improved to 3.7 per cent underlying the continued improvement across the business." ​ RCR said its order book was steady at $300 million. ​ Dr Dalgleish said business was expected to continue to improve through the second half with increased revenues from projects secured in 2010 contributing to an increase in activity across most of the company's business sectors. ​ "Our mining business has an unprecedented backlog and solid level of inquiries reflecting early investment in a number of resource projects which are expected to sustain growth through the medium term," he said. RCR shares were off four cents, or 2.67 per cent, to $1.46 at 9.05am.

by Andrew Burrel THE AUSTRALIAN, 12AM January 18,2012 PAUL Dalgleish doesn't hesitate for a second when asked about the topic of his PhD RCR is a study in Success Thanks to the Boss. PAUL Dalgleish doesn't hesitate for a second when asked about the topic of his PhD Thesis at Melbourne University in the 1980’s. With remarkable speed, the science whiz turned engineering firm boss declares: "It was called Aerodynamic Transport and Impaction Efficiency of Droplets on Foliar Targets." (It involved computer modelling of how chemical spraying of crops can be done more efficiently). ​ The restless Dalgleish, who is now turning around the fortunes of listed integrated engineering contractor RCR Tomlinson, says that while running a company and devising corporate strategy can be mentally stimulating, it doesn't always provide him with an intellectual challenge. ​ "This company needed a lot of cultural change," he says. ​ "It was a whole pile of things pushed together. It was very blue-collar at the time, which is fine, but the companies we were trying to tender to also wanted to see a professional bit up the top of project management." ​ Dalgleish, 50, has built a new senior management team, removing those he says were imbued with the "old culture", and increasing the number of employees from 200 to 2500. ​ About 60 per cent of RCR's work is in Western Australia, with the rest on the east coast, including the Queensland coal industry. ​ Last financial year, as the resources sector began to boom again, RCR posted a record net profit after tax of $19.5 million on record revenues of $607m. ​ Underlying profit margins rose from 3.2 per cent to 4.6 per cent, while net debt was slashed from $23.1m to $6.5m. The results are reflected in RCR's share price, which was 35c when Dalgleish arrived and is now trading at $1.60, although this is down on its record price of $1.87 last April. ​ Dalgleish's biggest triumph was in November when RCR won a $600m contract with Fortescue Metals Group for engineering, procurement and construction work at the miner's Solomon iron ore project in the Pilbara. It is RCR's biggest contract, eclipsing the previous record of $57m. ​ The work is due to be completed in December, but Dalgleish believes it may be just the start of a lucrative relationship with Fortescue, which is rapidly expanding its iron ore operations. ​ "We'll do this job and do it well," he says. ​ "It's an opportunity-based contract, so if we do well, we will enhance our margins because of the incentives." Last May RCR also bought the failed power business owned by AE&E for about $2.5m, including the intellectual property. The acquisition allowed RCR to move up to tier-one status in the power-generation services sector and reduce its dependence on mining. ​ RCR announced yesterday it had been awarded a $30m contract to provide power generation works for BHP Billiton's Yarnima power station in the Pilbara - the first major deal it has secured using the AE&E technology. Brokers have reacted to the flow of positive news from RCR with a string of glowing reports and price upgrades. ​ Bell Potter analyst Jonathan Snape has a 12-month price target on the stock of $2.12 and says the company has been transformed into a serious player in the resources and energy sectors. ​ "RCR looks to have successfully transitioned from a sub-contractor to tier-one supplier," he said in a note to clients. "The balance sheet is positioned for revenue growth and rising mining investment should support a step-change in revenues over the next two to three years." ​ Despite the fragility of the global economy and the threat of falling commodity prices, Dalgleish remains confident that mining will continue to grow strongly this year. ​ "I don't believe the mining sector will slow appreciably, but you can get hiccups," he says. ​ "When the RSPT was announced (Mineral Resources Rent Tax in 2010), spending just pulled up for six to eight months. Confidence was high and spending was starting to get going - and then everyone just went 'uurrgh'. ​ "But I don't think commodity prices will come off that far. Commodities will always be sought after unless people are going to accept a reduction in standard of living. ​ "And it's very rare that people accept a lower standard of living, so you'd have to say it's a great future for mining services companies in Australia for the next five or 10 years." ​ While clearly relishing the corporate challenge at RCR, Dalgleish still hasn't got the academic bug out of his system and, perhaps jokingly, says he may have to return to university again to sate his intellectual curiosity. "I started school at four so that means I haven't been at school for only nine or 10 years of my life," he says in an email. "Now I am writing this, I now realise I need to start studying something!"

Elise Shaw Markets Online Editor Updated Feb 24, 2014 – 5.01pm,first published at Feb 20, 2014 – 7.32am RBC Capital Markets has retained an “outperform" on RCR Tomlinson and a 12-month price target of $3.80 a share on the stock. ​ It said the company’s first-half result was in line with expectations, though more importantly, it forecasts that cash flow in the second half will be very strong and should lead to a significant reduction in gearing. ​ “Likely margin improvement in the acquired Norfolk [Group] leaves RCR positively leveraged," RBC said. ​ “Overall, the result was in line with expectations and was a record half. RCR remains one of the few stocks in the sector poised to post growth in 2013-14 and is on track for a record 2013-14 result, in our opinion."

by fraser beattie 01/12/2014 - 13:40 Engineering and infrastructure firm RCR Tomlinson has established a new subsidiary to build a power station in the Galilee basin in Queensland, with Indian company Adani Mining lined up as a foundation customer. Engineering and infrastructure firm RCR Tomlinson has established a new subsidiary to build a power station in the Galilee basin in Queensland, with Indian company Adani Mining lined up as a foundation customer. ​ Under the terms of a memorandum of understanding it signed with Adani, RCR will provide about 150 megawatts of electricity to its Carmichael coal mine project in the Galilee basin. ​ “RCR has commenced the early contractor involvement process for the provision of this power working with Adani Mining in a collaborative open-book approach,” RCR said in a statement. ​ “The ECI is expected to be completed by the first quarter of 2015.” ​ Following completion of the ECI work, and certain terms are agreed upon, the two companies will enter into a build, own, operate and transfer agreement for the power station. ​ RCR managing director Paul Dalgleish said the proposed power station would use environmentally friendly fluidised bed technology to maximise efficiency and provide a reliable power supply. ​ He said the power station would provide the company with an opportunity to leverage its acquisition of the AE&E business in 2010. RCR shares were down nearly 8 per cent to $1.98 per share at the close of trade.

article by: Stuart McKinnon and Peter Williams | The West Australian Fri, 14 August 2015 10:04AM UPDATE 2.20pm: RCR Tomlinson has bought the Water Corporation’s engineering and construction services business for $10.4 million. ​ The Water Corporation had announced in January it would sell the construction division to the private sector, prompting fears of job losses among its 150 employees. ​ However neither side, in announcements today, made clear whether all jobs would be retained. ​ Water Corporation chief executive Sue Murphy said less need to build significant new infrastructure had been the key driver for the sale. ​ “Selling ECS provides the best opportunity for ongoing employment for our people – employees were given the opportunity to move across to the successful bidder, without loss of pay and conditions,” she said. ​ Ms Murphy said the Water Corp would work closely with RCR Tomlinson to ensure a successful transition of ECS and the completion of works. ​ “RCR Tomlinson is extremely positive about the experience and capability of the ECS workforce, and they see the potential for the team to add real value to their business now and into the future,” she said. ​ Managing director Paul Dalgleish said: “We are confident that the ECS business and its employees will add significant value to our shareholders”. ​ RCR said the acquisition came with guaranteed work commitments of at least $130 million, boosting the company’s order book to more than $1.03 billion. ​ Key contracts to be completed for the Water Corporation include upgrades and construction work at the Subiaco Wastewater Treatment Plant, Cable Beach in Broome and the Wheatbelt town of Beverley. ​ The contractor said the deal would increase its order book to $1.03 billion. ​ Mr Dalgleish said the ECS business' intellectual property, design, procurement and construction expertise would be used to target projects for other water authorities nationally and internationally. ​ RCR shares were up 6.5 cents, or 3.88 per cent, to $1.74 at the close.

article by: Tue, 24 May 2011 9:46AM UPDATE 11.55am: Engineering company RCR Tomlinson has picked up AE&E, the Australian subsidiary of failed Austrian company A-Tec, to give it a foothold in the power and steam generation project market. RCR did not disclose the value of the transaction but said it would be funded from existing cash holdings. ​ "With the acquisition of AE&E Australia, RCR now holds all the major steam cycle and boiler technologies and licenses necessary to deliver the majority of power and steam generation projects in Australia," the company said in a statement. RCR said it would acquire fixed assets including plant and equipment associated with the business and had also retained the services of several key AE&E staff. However the company said it would not be taking on any project liabilities which AE&E Australia held prior to its sale. RCR chief executive Paul Dalgleish said the acquisition of AE&E Australia would broaden the range of energy technologies that the RCR Energy business can offer customers in the industrial and utility sectors. ​ AE&E was placed in administration in November last year, just weeks after being dumped as a contractor on the Sino Iron Ore project in the State's North West. ​ AE&E was still working on BHP's Worsley Alumina expansion project when it collapsed. RCR's corporate advisers for the transaction were Lincoln Crowne & Company and Allens Arthur Robinson acted as legal counsel. ​ RCR shares were up one cent to $1.61 at 11.55am.