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Matrix Composites & Engineering Ltd ( (AU:MCE) ) has issued an update.
Matrix Composites & Engineering Ltd has secured a contract from Stena Drilling worth approximately A$7 million for the supply of a Deepwater Drilling Riser Buoyancy System, to be manufactured at its facility in Western Australia. This new order underscores Matrix’s strong positioning in the subsea buoyancy market and reflects improved conditions in the drilling sector, bolstering aftermarket demand for replacements and upgrades, which Matrix is well-equipped to fulfill.
More about Matrix Composites & Engineering Ltd
Matrix Composites & Engineering Ltd specializes in the design, engineering, and manufacture of composite and advanced material technology solutions for multiple industries including oil and gas, civil infrastructure, and defense. With over 20 years of experience, it is recognized as an industry leader and a major exporter of Australian goods and services globally, offering turnkey solutions with localized support.
YTD Price Performance: -11.43%
Average Trading Volume: 3,500
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €29.5M
For detailed information about MCE stock, go to TipRanks’ Stock Analysis page.
