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PWR Holdings Ltd (ASX:PWH) has consolidated its growth within the sectors of aerospace and defence, through an AU$8.9 million order to supply advanced cooling solutions for a U.S. government project.
The order – worth US$5.5M – was secured by PWR’s North American subsidiary C&R Racing Inc., and is scheduled for delivery in 2025, with the order being manufactured at PWR’s Australian and North American sites.
Managing director Kees Weel said the order represented an important milestone for the company, which mainly engages in the production and sale of cooling products.
“This is PWR’s largest single order for Aerospace and Defence since we decided to build our own Aerospace and Defence team in 2020,” he said.
“Our decision to leverage our market-leading advanced cooling technology and expertise from Motorsport into Aerospace and Defence is now delivering tangible results.
“This order validates both our strategy and the investment we have made in building capability in this attractive sector.”
PWH‘s share price moved upwards after the news, and at 16:37 AEDT, shares were trading at $7.62 – a rise of 2.14% since the market opened.
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