Australia's Matrix Composites & Engineering hits 9-mnth high on securing contract

Matrix Composites & Engineering

15/08/2022 05:23

** Shares of Matrix Composites & Engineering  MCE.AX  soar
up to 22.2% to A$0.22, hitting their highest since Nov. 11, 2021
    ** The engineering products and service co says it secured
A$16 mln ($11.36 mln) contract to supply a production buoyancy
system for a deepwater project in South America (https://bit.ly/3JSn7Ip)
    ** Co says the order could be increased up to A$18 mln 
    ** MCE marks it biggest intraday pct gain since February 9
    ** As of last close, stock rose 5.9% this year    



($1 = 1.4085 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))