CPB MND

News: Monadelphous buys PearlStreet for $4M

  1. FNN News
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    05/07/11
    10:35
    Post #: 8629599
    .


    Engineering group Monadelphous Group Ltd (ASX:MND)  has bought asset management company PearlStreet Energy Services for $4 million from Campbell Brothers Ltd (ASX:CPB). 



    PearlStreet manages two long term operations and maintenance contracts in the power sector in Western Australia.



    Monadelphous says the contracts run between three to four years and have a combined value of around $50 million.



    The company believes its latest acquisition will enable it to expand its services into the power sector.



    In the first half of its 2011 financial year, Monadelphous Group reported a net profit of $45.5 million.


    MND Price at posting: $18.83 Sentiment: None Disclosure: Held
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