They will not stop, even if there is a little correction these...

They will not stop, even if there is a little correction these guys will keep on keeping on:))




Industrea wins new China customer, $3.9m contract as FY10 growth continues
• Industrea signs $3.9 million contract with China’s Inner Mongolia Huineng Group in Inner Mongolia
• Export order for three Australian-built Industrea Mining Equipment (IME) 50 tonne longwall roof support carriers, proving capacity of Australian manufacturing to deliver state-of-the-art equipment
• New Chinese customer for Industrea group shows value of expansion in China, strength of organic growth
• Contract win increases total of new equipment contracts announced for China to approximately $26 million since start of new financial year
Expanding its Chinese presence, global mining products and services provider Industrea Limited (ASX:IDL) today announced a $3.9 million contract to new Chinese customer Inner Mongolia Huineng Group for the delivery of IME 50 tonne longwall roof support carriers.
Industrea has now secured around $26 million of new mining productivity and safety equipment orders to China’s expanding coal industry since the start of the 2009/10 financial year, based on the company’s excellent track record in the country, established customer support network and ability to win new clients against tough international competition.
Inner Mongolia Huineng Group is based in Ordos, Inner Mongolia, and encompasses coal mines, power plants, water and road infrastructure. The group’s mines are capable of producing up to 15 million tonnes of coal per year.
Welcoming another new client to Industrea’s fast-growing Chinese customer base, Industrea Managing Director and CEO, Robin Levison, expressed confidence in further growth in this important market for the company.
“The recent stream of contract wins in China has shown that Industrea is firmly embedded in the Chinese coal mining industry as the supplier of choice. Our local subsidiary, Wadam, has established a strong presence on the ground, and our record of successful product delivery and commissioning followed by strong reliability continues to win new orders for our Australian-built equipment,” Mr Levison said.
Page | 2
“Working hand in hand with our Chinese partners, we anticipate further contract wins as we deliver the improvements in productivity and safety that are integral to the industry’s future growth.”
China has outlined plans to boost domestic coal production from the 2.6 billion tonnes produced in 2008 to more than 3.3 billion tonnes by 2015, in line with anticipated growth in energy demand. According to media reports, key coal provinces are increasing mine openings to meet the demand following moves to consolidate smaller pits and improve safety.
“Industrea has established relationships with leading Chinese mining groups, including Jincheng Anthracite Mining Group, China Shenhua Energy Co. and Shanxi Mining Group, along with a range of small and mid-sized coal producers,” Mr Levison said.
“Our capacity to meet the needs of a range of clients, including such items as methane gas drainage, collision avoidance systems and the world’s most advanced longwall roof support and shearer carriers, is indicative of the strength of Industrea’s business and success at building long-term customer relationships.”
Since July 2009, Industrea’s new contract wins for the Chinese market have included a $3.1 million directional drilling and methane gas drainage contract for Yang Cheng County; $13.6 million of directional drilling and methane gas drainage systems for the Jincheng and Shanxi Mining Groups; and $5 million worth of contracts for the supply of gas drainage and longwall roof support carriers to Jincheng Group.
“Industrea has made a strong start to the new financial year, which has been reflected in the growth of our business across a range of sectors and our increasing support from shareholders. We are determined to continue this growth as we proudly support the efforts of our international clientele to achieve world-best practice in mining productivity and safety,” Mr Levison said.