- Acrow Formwork and Construction’s (ACF) industrial services division wins a further $4.2 million in maintenance shutdown contracts
- The new contracts are all based in New South Wales, building on ACF’s recent success in the state
- Due to these contract wins, Acrow has upgraded its FY22 target revenue and sales contribution margin for the Industrial Services division by 7 per cent
- The company is now expecting a target revenue for FY22 to be $31 million and a sales contribution of $15 million
- On market close, Acrow is in the grey, trading at 41.5 cents per share
Acrow Formwork and Construction’s (ACF) industrial services division has secured a further $4.2 million in maintenance shutdown contracts.
The new contracts are all based in New South Wales, building on ACF’s recent success in that state.
Under the agreements, ACF will provide industrial scaffold hire and labour services for maintenance shutdown programs across the Bayswater, Eraring, and Mt Piper coal-fired power stations.
These programs are expected to commence from August 2021 and completed by December 2021.
Due to these contract wins, Acrow has upgraded its FY22 target revenue and sales contribution margin for the Industrial Services division by 7 per cent.
The company is now expecting a target revenue for FY22 to be $31 million and a sales contribution of $15 million.
CEO Steven Boland said the industrial team has been focussing on opportunities in Australia’s east coast.
“I am very proud of the achievements of the team, having now secured
maintenance shutdown contracts with four of the five largest power stations in New South Wales over the last six months,” he said.
“We are clearly building a solid reputation in this sector for safety, quality, and efficiency.”
On market close, Acrow was in the grey, trading at 41.5 cents per share.