Industrea signs contracts worth $14.5 million

Company News

Industrea Limited (ASX:IDL) has signed a $4.4 million contract to supply two roof support carriers, spares sales worth $6.3 million, and a maiden $1.4 million for support carrier refurbishments, to Chinese company Chemical Industry Group Shennan Industry Development Co Limited (Shenfu).

The contracts, to be carried out by Industrea subsidiary Industrea Wadam, continue from strong domestic demand of Industria’s other products like roof support carriers, engine packages for personal carriers, and a high-powered, ultra-low emission vehicle used in domestic underground coal mines.

Managing director Rob Levison says the company’s enjoyed growing demand for its flame-proof, explosion-proof specialised underground mining vehicles and he expects to see more contracts for the equipment both in China and in Australia.

Industrea Limited (ASX:IDL) reported a profit of $47.9 million for the six months to June.