Industrea wins $5.3M Chinese contract

It is the first time Industrea has made a sale to Shenhua Ningmei Group Material Co, part of Industrea’s existing client Shenhua Energy Company.Today’s contract brings Industrea’s total new contracts since June 2008 up to $60 million.“Having a strong reputation in this area is especially important with the Chinese government placing increased emphasis on productivity and safety in its recent 11th Five-Year Plan,” Industrea chief executive Robin Levison said.“With China’s demand for energy unabated and its mining sector showing exceptional resilience, China will continue to be an area of growth and profitability for Industrea with the strong demand for safety and productivity equipment expected to continue for both the current and next financial year. “Aligned with Industrea’s internal budget forecast, certain future additional Chinese sales contracts completed during the remainder of the current financial year will be delivered and revenue recognised in the next financial year.”

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