Ausdrill sells Queensland, NZ, Africa operations

AUSDRILL, foreshadowing another disappointing result for 2000-01, plans to sell its Queensland and New Zealand assets to Major Drilling International Inc and its investment in West African Drilling Services to Layne Christensen Co.

The Perth-based contractor said the book value of the plant, equipment and inventory from the Queensland and NZ operations being sold is $5.77 million and the related equipment finance of $1.