- SRJ Technologies (SRJ) and Piping Specialty Supply Service (PSSS) have signed an equipment rental agreement
- PSSS has made a purchase order, worth $50,000, to offer SRJ’s Boltex Bolt Exchange Flange Clamp to its clients
- The equipment will be available for rent and PSSS will market these to its clients Australia-wide
- Revenue generated from the deal is expected to land between $470,000 and $500,000 in 2021
- SRJ will retain 75 per cent of the revenue under a special arrangement
- SRJ is trading a slight 3.17 per cent higher for 65 cents at market close
SRJ Technologies (SRJ) has signed a memorandum of understanding (MoU) with Piping Specialty Supply Service (PSSS) as a rental provider for its specialised equipment.
For an initial three-month period, PSSS will add SRJ’s Boltex Bolt Exchange Flange Clamp to its equipment available for rent and will market these to its client base.
PSSS has an existing client base in Australia for bolt exchange opportunities, for which SRJ’s product could be used.
“PSSS provides a broad range of specialist piping equipment and services across multiple sectors, and has a reputation for solving problems for clients. As such, the company has a strong client base and opens the way to new opportunities for SRJ,” SRJ CEO Alexander Wood said.
SRJ has already received an initial purchase order of $50,000 from PSSS for the first three months of the rental term.
“The Boltex Bolt Exchange Clamps are an innovative repair and maintenance product that will allow PSSS to provide clients with a fast, safe and effective solution,” PSSS Director John Wilton said.
Revenue generated from the deal is expected to land between $470,000 and $500,000 in 2021. SRJ will retain 75 per cent of the revenue under a special arrangement.
SRJ is trading a slight 3.17 per cent higher for 65 cents at market close.