Emeco managing director Ken Lewsey. Picture: Ben Crabtree/The West Australian.
Emeco managing director Ken Lewsey. Picture: Ben Crabtree/The West Australian.

UPDATE 2.30pm: Emeco shares were firmer after the heavy equipment company secured a five-year agreement with Chilean mining contractor Fe Grande, which is expected to generate $27-$32 million in revenue a year.

The win represents more than 50 per cent utilisation for the company's Chilean fleet.

Chief executive Ken Lewsey described it as a significant win for the company, providing an excellent platform to further grow the Chilean business and look for future expansion in Latin America.

"It supports our longer term ambitions in creating additional value in diversifying our business across geographies, commodities and services," he said.

The company said it would release its full-year results on Thursday.

Emeco shares closed up half a cent, or 2.33 per cent, at 22 cents.

The West Australian

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