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Matrix Composites & Engineering Limited (ASX:MCE)

ALERT: Price-sensitive ASX Announcement for MCE
Current share price for MCE : $0.398 0.003 (0.63%)+
Announcement
Release
24 Jun 2026 8:25AM
Price at Release
$0.395
Full Release
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Summary
Matrix Composites & Engineering Ltd, an Australian company, announced a significant new contract for subsea buoyancy components valued at approximately A$34 million for an international energy project. The contract includes options for additional equipment packages and services, potentially increasing the project's overall value. Production will begin at Matrix's facility in Henderson, Western Australia, in the December 2026 quarter, with completion by the end of the 2027 financial year. This contract strengthens Matrix's work commitments over the next year, supporting a positive outlook for the subsea services sector in FY27. CEO Aaron Begley emphasized the company's strong position in the international market and the confidence of their customers. The announcement confirms that all necessary information has been disclosed to assess the contract's impact on Matrix's securities market price.
Key Points
  • Matrix Composites & Engineering Ltd awarded a new subsea buoyancy contract.
  • The contract is valued at approximately A$34 million.
  • Production will start early in the December 2026 quarter.
  • Completion expected by the end of the 2027 financial year.
  • The contract boosts Matrix's work portfolio for the next 12 months.
  • Matrix's CEO, Aaron Begley, highlighted the company's strong market position.
  • The announcement contains all material information for assessing market impact.
  • The identity of the contract counterparty is not disclosed.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.