Specialist resources services provider Babylon Pump & Power Limited (ASX: BPP) has secured an extension of its existing on-site services and supply contract with Alcoa of Australia Limited.
Babylon has supplied exchange engines and performed site services under contract to Alcoa for the past 18 months.
Neither the contract nor the contract extension provides any commitment or guarantee of revenue but based on the past 12-month period under the original contract it is estimated this extension may be material and contribute c$2.8 million annually of revenue during its term.
The Board of Babylon stated it is grateful for the confidence that Alcoa has placed in the company and looks forward to continuing a strong and positive working relationship with Alcoa.
