Austin wins Vale contract

Company News

Austin Engineering Limited (ASX:ANG) has signed a three-year contract with Brazil-based international miner Vale.
 
While the value of the contract has not been pre-determined, Vale has informed the company that the previous contract was valued at $US 200 million.
 
Austin says Vale will split this contract between two companies, with Austin receiving the larger part of the contract.
 
The scope includes a number of Austin products such as dump truck bodies, buckets and ancillary equipment. 
 
Vale has also confirmed that it may adopt a scheduled maintenance program similar to that used by Austin in its Pilbara Hire service and repair business.
 
Austin Engineering delivered a net profit of $28.4 million in fiscal 2013.  

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