Monadelphous Group Limited ( (AU:MND) ) has shared an announcement.
Monadelphous Group Limited has announced its agreement to acquire High Energy Service, a Perth-based high voltage services business, for $21.5 million. This acquisition aligns with Monadelphous’ strategic goals to enhance its capabilities in supporting Australia’s energy transition, particularly in the electricity generation and infrastructure sectors. The transaction is expected to be completed by July 2025, potentially strengthening Monadelphous’ position in the market and expanding its service offerings to major resources companies, especially within the iron ore sector.
More about Monadelphous Group Limited
Monadelphous Group Limited is a leading Australian engineering group with over 50 years of experience, providing construction, maintenance, and industrial services to the resources, energy, and infrastructure sectors. The company operates through two main divisions: Engineering Construction and Maintenance and Industrial Services. Headquartered in Perth, Western Australia, Monadelphous has a significant presence in Australia and international locations including China, Mongolia, Papua New Guinea, and the Philippines.
YTD Price Performance: 6.45%
Average Trading Volume: 2,008
Technical Sentiment Signal: Sell
Current Market Cap: €849.2M
For a thorough assessment of MND stock, go to TipRanks’ Stock Analysis page.