Monadelphous Group Limited
(ASX:MND) has acquired a ten per cent stake in waste technology company AnaeCo Limited
(ASX:ANQ).
Under a joint venture agreement, AnaeCo will issue shares at $0.048 per share for about $2 million of its costs associated with the joint venture.
The companies have partnered to design and construct a solid waste management facility using AnaeCo’s patented DiCom™ system.
Monadelphous Group generated a first half net profit of $57.5 million.
