Australia's Saunders hits 7-year high as co signs new defense contracts

Saunders International

22/11/2021 24:56

** Shares of Saunders International Ltd  SND.AX  jump as
much as 7.1% to A$0.835, hitting their highest level since Nov
2014
    ** The steel storage tank designer says it has been awarded
A$140 mln ($101.26 mln) contract by U.S.-based global solutions
co Crowley for the design and construction of 11 tanks for a jet
fuel storage facility  urn:newsml:reuters.com:*:nASX3Jwb1r
    ** Adds that co will further provide engineering,
procurement and construction management services to Crowley for
A$25 mln
    ** Stock posts its biggest intraday percentage gain since
Jan 28
    ** More than 103,000 shares change hands, compared with the
30-day average volume of about 16,000; sees busiest day since
Aug 27
    ** Stock up 36.2% this year, as of last close

    ($1 = 1.3826 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))