Perth-based engineering company Emerson Stewart Ltd has boosted its order book value to $46 million after it secured three new contracts with Apache Energy Ltd, Peet Ltd and Straits Asia Resources Ltd.
Below is the full announcement:
Emerson Stewart Group Limited (ASX: ESW) is pleased to announce that it has been awarded three significant new projects bringing the total order book value to approximately $46 million.
The contracts are with both existing and new customers and represent a substantial boost to Emerson Stewart's secured order book.
The new contracts include:
Provision of engineering services for Devils Creek storage and administration buildings as part of the Reindeer gas project for Apache Energy
Provision of EPCM services for the Mundijong and Byford subdivision, comprising 1,700 lots for Peet Limited
Study management for the Straits Asia Coal Mine expansion at Palua Sebuku in Kalimantan. Emerson Stewart is currently working for Straits Asia as Project Manager on a current expansion project also at Sebuku.
Emerson Stewart Group Managing Director Dario Amara said the infrastructure business in particular continued to benefit from buoyant market conditions.
"The decision to enter the Infrastructure space has been well received by the market and revenues are on track to exceed prospectus targets. A key achievement has been our ability to attract top-flight professionals seeking a fresh and innovative approach to project advisory services in a people-first environment."
"The recent awards by existing clients represented a strong vote of confidence on Emerson Stewart's ability to deliver despite the resources constrained market."
Mr Amara confirmed the outlook for Emerson Stewart was very healthy.
"With the addition of these new contracts we are looking forward with confidence to a strong 2009 financial year," he said.
