05/10/2021 - 11:19

Aerison secures $140m in contracts

05/10/2021 - 11:19

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West Perth-based mining services company Aerison has secured a suite of new contracts totalling $140 million, underpinning a 15 per cent increase in revenue for next financial year.

The new contracts totalling $140 million prompted the company to increase its projected revenue by 15 per cent. Photo: Aerison

West Perth-based mining services company Aerison Group has secured a suite of new contracts totalling $140 million, underpinning a 15 per cent increase in revenue for next financial year.

Aerison has been contracted to facilitate the construction of a 40-megalitre desalination plant in the Pilbara, as well as pipe rack modules for lithium processing and two e-houses at Barrow Island; the home of Chevron’s Gorgon gas project.

The company, which counts mining giants Fortescue Metals Group and Rio Tinto among its clients, has also secured a three-year shutdown maintenance contract for an unnamed iron ore producer.

In a statement released this morning, Aerison Group managing director Giuseppe Leone said the new contracts had expanded the company's customer base and would significantly increase its revenue forecast for FY22.

The company said it expected to begin the contracts immediately, with works slated for completion in 2022.

Aerison listed on the ASX back in July, three decades after it was first established and five years after it was acquired by Mr Leone and chief operating officer Daniel Hibbs.

The company expects to earn $180 million in annual revenue next financial year, a 15 per cent increase on previous estimates.

Aerison operates a 10,800 square metre industrial facility in Forrestfield and has more than 540 employees providing environmental, maintenance and shutdown services, project construction, electrical and control infrastructure, and power generation services.

Aerison’s shares were up 2.4 per cent at 1:17 pm AEDT to trade at 21 cents.

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