Monadelphous wins new contracts

UPDATE 3.10pm: Monadelphous says it has won new work and contract extensions worth $140 million.

The work includes a three-year maintenance contract for BHP's Nickel West division covering mechanical and electrical services; a one-year contract with Rio Tinto Coal and Allied for dragline and shovel shoutdown at New South Wales coal mines; a two-year extension to an onsite services contract at BHP's Olympic Dam operation in South Australia and a one-year extension to its onsite services with BP at Kwinana.

Monadelphous managing director Rob Velletri said the contracts and contract extensions would support the company's recurring revenue base and reflected the importance the company placed on developing and maintaining long-term relationships with customers.

Shares in Monadelphous closed down three cents at $17.96 in a broadly weaker market.

The West Australian

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