Aerison Group (ASX:AE1) has increased its exposure to key Australian growth markets after being awarded new contracts worth a combined value of $100 million.
The company says these new projects expose it to key growth markets in Australia, including rare earths, agriculture, green energy, and chemical sectors, and that this $100 million continues to fuel its pipeline of opportunities to above $5 billion, with the company’s order book currently totalling $370 million.
Adding on, Aerison notes the current order book consists of works secured under contract, and a forward erimate of regular and ongoing works under master services agreements, as well as preferred supplier arrangements.
“These contract awards are an important step in delivering our industry diversification strategy with an increasing focus on the critical mineral, agriculture, and chemicals sectors”
New contract wins include multiple contract awards for the company’s niche environmental engineering and construction services division delivering Air Pollution Control solutions across a number of iron ore processing facilities in the Pilbara. Other contracts include the manufacture and installation of a raw materials conveyor system for CSBP, part of Wesfarmers chemicals, energy, and fertilisers portfolio.
Speaking on the new contracts, Aerison Chief Executive Officer (CEO) Giuseppe Leone said: “These contract awards are an important step in delivering our industry diversification strategy with an increasing focus on the critical mineral, agriculture, and chemicals sectors. Looking ahead, our pipeline of identified opportunities continues to track steadily above $5 billion and supports a more diversified revenue stream to complement our current iron ore portfolio of projects.”
Also commenting on the new contracts, company Non-Executive Chairman Bronwyn Barnes says the company is positioned to capitalise on its growing opportunities pipeline: “Aesiron’s strength is its diversified customer base, and we continue to strategically broaden our exposure to exciting growth sectors in the Australian market. We are strongly positioned to capitalise on our growing opportunities pipeline over the next 6-12 months and will continue to pursue opportunities aligned with our core strategy.”
The company also notes anticipated awards in the coming months will support its growth targets for this year ending 31 December 2023.
Aerison is an ASX-listed multi-discipline engineering design and construction company offering engineering, design, construction, and maintenance services to various industries and clients across Australia. The company is recognised for its specialist expertise in environmental services, including emission mitigation performance studies, compliance testing, and custom designed and build solutions designed to reduce the impact of industry on the environment.