Enerflex (TSE:EFX) has released an update.
Enerflex Ltd. reported its customer’s intention to terminate the contract for the nearly completed EH Cryo project in Kurdistan due to safety concerns, following a force majeure notice after a drone attack. The company, disagreeing with the termination, intends to dispute the decision to protect its interests. The EH Cryo project, which is 85% complete and valued at $160 million in unbilled revenue, is a significant part of Enerflex’s Engineered Systems backlog.
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