Ann: Empired secures new 5 year contract with Rio Tinto, page-12

EPD has no work in Federal, so not sure where you are getting your data from. They are also a very different business to CNW, and the RIO win would not have been an opportunity that EPD pursued. I’m not a supporter of EPD due to the management, not because of the market they are in. However CNW is a company that plays in the low margin market that is highly competitive and offers no IP...so I like them less than EPD and they should not be listed.