07/10/2013 - 10:00

Forge wins $50m maintenance contracts

07/10/2013 - 10:00

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Forge Group has won more than $50 million in asset management contracts in the space of four months as it looks to grow its presence in North America.

Forge Group managing director David Simpson.

Forge Group has won more than $50 million in asset management contracts in the space of four months as it looks to grow its presence in North America.

Forge said today that about $38 million of its recently secured work was for ongoing maintenance in the North American coal sector, following its acquisition of American engineering, procurement and construction firm Taggart Global in June for $US43 million.

Taggart Global was rebranded as Forge Group North America following settlement of the deal in July.

The remaining contracts are based across a range of markets in Australia.

Forge managing director David Simpson said North America was home to the world's largest industrial maintenance market and considered an important growth area for the company.

"We are also pleased to note the diversification into new Australian sectors, with clients including major utilities, government departments, port operators and Queensland-based coal producers," Mr Simpson said.

Forge shares were up 2 cents to $4.91 at 10:00AM WST.

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