Matrix Composites & Engineering sees best day in over 2 months on contract win

Matrix Composites & Engineering

20/09/2021 04:42

** Shares of Matrix Composites & Engineering Ltd  MCE.AX 
jump as much as 15.38% to A$0.15, heading for their best day
since July 13  
    ** Australia-based engineering products and services co
secures contract worth about A$4.2 mln ($3.04 mln) from
U.S.-based offshore drilling contractor Transocean Ltd  RIGN.S 
 urn:newsml:reuters.com:*:nFWN2QK0EG
    ** Contract to upgrade ultra-deep water drillship modules
for Transocean 
    ** MCE expects completion and delivery during the December
half of FY22
    ** Nearly 453,700 shares change hands, thrice the 30-day avg
volume of about 68,700 shares
    ** Stock down 16.13% this year, as of Friday's close

($1 = 1.3829 Australian dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))