Downer secures $750m in new contracts
February 3, 2010
Downer EDI Limited (DOW) said it has secured more than $750 million in new contract across its rail, resources, energy and infrastructure divisions.
Managing director and CEO Geoff Knox said the contracts added to a work-in-hand balance of over $16 billion.
“These wins reinforce Downer’s position as a leading provider of rail manufacturing; mechanical, electrical and instrumentation contracting; road maintenance and construction; transmission lines; and consulting services across the Asia Pacific region,” Mr Knox said.
“We have secured more than $400 million worth of contracts to deliver both standard and narrow gauge locomotives for coal haulage in New South Wales and Queensland as well as locomotives for iron ore haulage in the Pilbara,” Mr Knox said.
Mr Knox also highlighted the Works division had secured more than $160 million worth of contracts for clients in Australia, New Zealand and the Pacific Islands.
“The Engineering division has secured approximately $120 million worth of new contracts for major clients including TransGrid and we are buoyed by the significant increase in tendering opportunities emanating from the energy and power sectors during the past few months”, Mr Knox said.
At 1019 AEDT, Downer shares were up 1.1% to $8.19.
Managing director and CEO Geoff Knox said the contracts added to a work-in-hand balance of over $16 billion.
“These wins reinforce Downer’s position as a leading provider of rail manufacturing; mechanical, electrical and instrumentation contracting; road maintenance and construction; transmission lines; and consulting services across the Asia Pacific region,” Mr Knox said.
“We have secured more than $400 million worth of contracts to deliver both standard and narrow gauge locomotives for coal haulage in New South Wales and Queensland as well as locomotives for iron ore haulage in the Pilbara,” Mr Knox said.
Mr Knox also highlighted the Works division had secured more than $160 million worth of contracts for clients in Australia, New Zealand and the Pacific Islands.
“The Engineering division has secured approximately $120 million worth of new contracts for major clients including TransGrid and we are buoyed by the significant increase in tendering opportunities emanating from the energy and power sectors during the past few months”, Mr Knox said.
At 1019 AEDT, Downer shares were up 1.1% to $8.19.
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