Geothermal Analysis Company IES Turns a Profit Six Months after Leaving University Hands (Yahoo New Zealand)
International Earth Sciences, which specializes in geothermal and micro-seismic analysis, has turned a profit just six months after being taken into private ownership from the University of Auckland.
The Auckland-based company said it had secured multi-million dollar contracts in Mexico, Japan, Germany, Indonesia, and New Zealand that had seen it go from being loss-making under university management to profitable in private hands.
Formerly known as the now-defunct University of Auckland Institute for Earth Sciences and Engineering, the company was taken over last October by chairman Ralf Muller and chief executive Hylton Whyte, who are the majority shareholders.
Read More.......