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MONADELPHOUS GROUP LIMITED — Capital/Financing Update 2019
Nov 19, 2019
65357_rns_2019-11-19_3d45aad2-7719-4833-8a95-dce3c37f7353.pdf
Capital/Financing Update
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20 November 2019
Company Announcements Australian Securities Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000 AUSTRALIA
Dear Sir / Madam
RE: MONADELPHOUS SECURES RIO TINTO MAINTENANCE SERVICES CONTRACT
Please find attached a copy of an announcement to be issued today by Monadelphous Group Limited regarding the award of a major five-year contract with Rio Tinto. The contract is for the provision of fixed plant maintenance and shutdown services at Rio Tinto’s iron ore operations in the Pilbara region of Western Australia.
Yours sincerely,
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Philip Trueman Company Secretary
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ASX RELEASE
20 November 2019
MONADELPHOUS SECURES RIO TINTO MAINTENANCE SERVICES CONTRACT
Engineering company Monadelphous Group Limited (ASX: MND) (“Monadelphous” or “the Company”) today announced it had been awarded a contract for the provision of fixed plant maintenance services to Rio Tinto, valued at more than $100 million in aggregate over a five-year period.
The mechanical and electrical maintenance services contract includes the provision of shutdowns and scaffolding at Rio Tinto’s iron ore operations in the Pilbara region of Western Australia.
Monadelphous Managing Director, Rob Velletri, said: “The contract allows us to build on our longstanding relationship with Rio Tinto. Our focus will be on the delivery of safe, reliable, innovative and cost-effective solutions.”
“We have seen significant growth in our maintenance division over the last two years, with a more than 50 per cent increase in revenue. This award, which is a continuation of the provision of maintenance services to Rio, ensures a strong pipeline of future work within the iron ore sector in the Pilbara,” he said.
“We look forward to continuing to partner with the communities of Karratha, Dampier, Wickham and Roebourne, providing employment, training and business opportunities in these regions.”
Monadelphous has provided services to Rio Tinto’s iron ore operations for more than 25 years.
Further Information
Analysts/Investors Kristy Glasgow Investor Relations T +61 8 9316 6386 M +61 403 781 909 [email protected]
Media
Ella McCarthy Group Manager - Marketing and Communications T +61 8 6311 1018 M +61 401 404 874 [email protected]
About Monadelphous
Monadelphous Group Limited (ASX: MND) is a leading Australian engineering group providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. The Company has two operating divisions − Engineering Construction, providing large-scale multidisciplinary project management and construction services, and Maintenance and Industrial Services, specialising in the planning, management and execution of mechanical and electrical maintenance services, shutdowns, fixed plant maintenance services and sustaining capital works.
Monadelphous is headquartered in Perth, Western Australia, with a major office in Brisbane, Queensland, and projects, facilities and workshops across Australia and in New Zealand, China, Mongolia, Papua New Guinea and the United States of America. Please visit www.monadelphous.com.au for further information.