North American Construction Says Subsidiary Mackellar Secured 5-Year Contract From An Existing Client, A Metallurgical Coal Producer In The State Of Queensland, Australia
Portfolio Pulse from Benzinga Newsdesk
North American Construction's subsidiary, Mackellar, has secured a 5-year contract worth approximately $375 million with a metallurgical coal producer in Queensland, Australia. The contract, which includes equipment and services, will be fully ramped up by mid-2025.
August 28, 2024 | 9:36 pm
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North American Construction's subsidiary, Mackellar, has secured a significant 5-year contract valued at $375 million with a coal producer in Queensland, Australia. This contract will enhance NOA's backlog and requires substantial capital investment for equipment and facilities.
The contract significantly increases NOA's backlog, indicating future revenue streams. The required capital investment suggests confidence in long-term growth, likely leading to a positive short-term impact on NOA's stock price.
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