BUZZ-Australia's Environmental Group gains on acquiring Advanced Boilers & Combustion

Reuters
31 Mar
BUZZ-Australia's Environmental Group gains on acquiring Advanced Boilers & Combustion

** Shares of Environmental Group EGL.AX rise 6.3% to A$0.255, their highest levels since February 20

** The emission control systems provider agrees to acquire Advanced Boilers & Combustion Pty Ltd, an industrial boiler service and manufacturing business, for A$5.5 million ($3.45 million)

** Co says acquisition represents a major expansion in its sales and service offering to the industrial boiler industry, complementing EGL Energy's existing business

** About 1.9 mln shares change hands, 2.5x the 30-day average of 753,475

** Stock down 19.1% YTD, including current session's moves

($1 = 1.5939 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10