Refinancing Presentation
Boart Longyear is delivering on a much
lower cost basis
$70 million cost reduction initiatives announced November 2012 will be fully
reflected in FYE 31 December 2013 EBITDA
•
Reduced global overhead headcount by 20%: Over 500 heads
•
Relocated rig assembly operation from Perth to Poland
•
Consolidated Sonic Drilling Services into the rest of the Drilling Services
❖ Additional $90 million of cost reductions announced August 2013 will be
implemented by FYE 31 December 2013 with roughly two-thirds realized in 2014
and the remaining one-third in 2015: Over 900 heads
•
Collapsed 23 operating zones for drilling services into 11 - each operating zone
had its own support functions
Consolidated Drilling Services and Products maintenance groups
.
Consolidated Drilling Services and Products supply chain functions
•
Further cost reduction initiatives actively under review
Positioned to realise margin improvement even without an industry recovery
BOART LONGYEAR Refinancing Presentation - October 2013
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