ANQ MND

News: Monadelphous buys into waste company

  1. FNN News
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    02/07/12
    11:31
    Post #: 10381249
    .

    Monadelphous Group Limited (ASX:MND) has acquired a ten per cent stake in waste technology company AnaeCo Limited (ASX:ANQ).



    Under a joint venture agreement, AnaeCo will issue shares at $0.048 per share for about $2 million of its costs associated with the joint venture.



    The companies have partnered to design and construct a solid waste management facility using AnaeCo’s patented DiCom™ system.



    Monadelphous Group generated a first half net profit of $57.5 million.

    MND Price at posting: $22.17 Sentiment: None Disclosure: Held
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