Steel maker and iron ore miner Arrium has named the head of its mining materials business as the successor to chief executive Geoff Plummer. Andrew Roberts will join the board immediately, and is expected to take over as chief executive in the first quarter of the 2013-14 financial year, Arrium said.
Mariner Corporation's low-ball takeover bid for stockbroker Wilson HTM may have lapsed. Wilson said it had urgently asked Mariner if letters to shareholders notifying them it had increased the offer period from Friday until June 28 had actually been sent. Wilson said Mariner had yet to respond.
Official data shows Australian sales of new motor vehicles, seasonally adjusted, fell 2.4 per cent in January. The Australian Bureau of Statistics says 95,694 new vehicles were sold in January, seasonally adjusted, compared with a downwardly revised 98,097 in December.
Car parts lift
Car parts retailer and logistics group Automotive Holdings' net profit rose to $37.9 million in the half year to December 31 from $31.8 million in the previous corresponding period.