Shares of Civmec Rise After Securing Over AU$600 Million in New Contracts

MT Newswires Live

07/24

Shares of Civmec (ASX:CVL) rose in recent Thursday trade after it said in a late Wednesday filing that it had secured over AU$600 million in new contracts and extensions across defence, resources, energy, and infrastructure sectors.

The company's shares rose almost 5% in recent trade.

The new contracts cover major projects in Western Australia, including Rio Tinto's (ASX:RIO) Cape Lambert Port A upgrade, Fortescue's (ASX:FMG) green iron project, the SEA1180 offshore patrol vessel program, and the planning phase for the Perth sporting and entertainment precinct, the filing said.

These contracts reinforce the company's strategic focus on diversifying its order book and expanding its presence in maritime defense, green energy, and complex infrastructure projects, the filing added.

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