WestStar Industrial Limited’s (ASX: WSI) wholly owned subsidiaries SIMPEC and Alltype Engineering have landed a range of important new contracts.
Outlook
Through substantial investment and integration, WestStar possesses the capability to tender, execute and deliver specialised engineering and construction solutions across mining, oil and gas, energy, infrastructure and industrial sectors.
The company says it is operating in a strong macro investment cycle for CAPEX in target markets.
WestStar Industrial is already in possession of significant works under contract and in various stages of completion for delivery in FY23. Recently awarded contracts disclosed to the market now total ~$28M, which includes the ~$15M of new awards and contract expansions1 previously announced in June.
Due to the ability to deliver works for several of these significant flagship projects (Iron Bridge Wet Plant, Talison Greenbushes, Tianqi, FQM, Lynas) the company has seen an acceleration of tendering activities in Western Australia’s battery mineral sector (nickel, lithium and rare earth producers).
There is a large pipeline of opportunities and the company believes it is in a strong position for further awards to be made in the near future.
WestStar continues to strengthen its position operationally and financially. Investors can expect the company to advise the market in the coming months as these contract opportunities are awarded.
The company continues to evaluate synergistic mergers and acquisitions to continue its strategy of accessing new geographies and industry segments.