Industrea wins new Chinese contract

AUSTRALIAN-listed Industrea has secured a $A10 million contract to sell directional drilling and coal degasification systems to the Longmei Mining Group in China.
Industrea wins new Chinese contract Industrea wins new Chinese contract Industrea wins new Chinese contract Industrea wins new Chinese contract Industrea wins new Chinese contract

 

Angie Tomlinson

Longmei, based in north-west China, has purchased four drilling guidance systems for its coal mines. These will be added to the two systems it bought from Industrea last year.

Longmei is one of several major Chinese clients, which include China Shenhua Energy Company, Jingcheng Group and Shanxi Coal.

Industrea managing director Robin Levison said China’s resources sector was one of the largest and fastest-growing in the world.

“The strong demand for energy, and the associated push for self sufficiency and less reliance on imported coal, continues to drive the domestic growth of China’s resources industry. At the same time, the modernisation of mines around the country has fuelled demand for Industrea’s products, particularly those that improve safety and productivity,” Levison said.

Industrea subsidiary Wadam Industries handles the company's sales and distribution in Beijing.

“As the population of Wadam-supplied equipment continues to grow in the Chinese market, Industrea has an expectation that revenues associated with the sales of spare parts and servicing will increase in line with total cumulative sales,” Levison said.

Industrea was trading up 2.61% mid-morning at 59c.

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