Australia's Civmec rises on securing new contracts

Civmec

24/07/2025 05:25

** Shares of Civmec CVL.AX up 10.3% at A$1.235, hitting their highest level since February 13

** Co secures new contract awards and extensions with a combined value of A$600 million plus ($396.7 million), the  construction and engineering services provider says

** As part of the contracts, CVL awarded a significant package of works for Rio Tinto's RIO.AX Cape Lambert Port A facility

** 356,188 shares change hands, 2.8x 30-day average volume

** Stock, however, down 3.5% YTD, including session's moves

($1 = 1.5126 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))