Engineering firm Duratec has bought out Canning Vale-based industry peer EIG Australia in a deal worth $9 million, in a move to boost its fuel and electrical infrastructure offerings.
Wangara-based contractor Duratec Australia has its sights set on further growth during the 2025 financial year, following the release of its annual guidance on Friday.
A joint venture between Duratec and Ertech will carry out $10 million worth of infrastructure planning work for the Department of Defence at HMAS Stirling on Garden Island.
Following record revenue during the 2024 financial year, Duratec Australia has secured a structural integrity project from Rio Tinto, under an existing master services agreement.
Shares in Wangara-based contractor Duratec Australia dipped early following news it had revised its annual guidance for the 2024 financial year, citing delays in the tender process for several projects.
Diversified Perth-based contractor Duratec says it is well positioned for further growth after reporting a 56 per cent net profit increase for the first half of the 2024 financial year.
Wangara-based contractor Duratec has launched Western Australia's largest initial public offering this year, adding to a flurry of WA companies aiming to list on the ASX.
