PWR Holdings shares gain after $8.9m US govt order
Make us a preferred source
Make us a preferred source on Google
The news: PWR Holdings' North American subsidiary C&R Racing has secured a USD5.5 million ($8.9 million) order to supply advanced cooling solutions for a US government project.
The numbers: PWR shares rose 6.6% to $7.95 by 3pm AEDT, having lowered more than 15% over the last 12 months.
The context: The order, scheduled for delivery in the 2025 calendar year, is PWR's largest single order for its aerospace and defence segment.
What they said: "Our decision to leverage our market-leading advanced cooling technology and expertise from motorsport into aerospace and defence is now delivering tangible results," said PWR managing director Kees Weel.
"This order validates both our strategy and the investment we have made in building capability in this attractive sector."
The source: ASX announcement
