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Matrix Composites & Engineering Ltd ( (AU:MCE) ) has shared an update.
Matrix Composites & Engineering Ltd has secured a new contract worth approximately A$10 million with a multinational energy services contractor for the supply and manufacture of subsea buoyancy in the Gulf of Mexico. This contract, expected to be fulfilled by the end of the 2026 financial year, marks a significant milestone for Matrix as it represents the company’s first major award for its Distributed Buoyancy product line in the Gulf of Mexico, further solidifying its presence in the global SURF market and enhancing its track record in the international buoyancy sector.
The most recent analyst rating on (AU:MCE) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on Matrix Composites & Engineering Ltd stock, see the AU:MCE Stock Forecast page.
More about Matrix Composites & Engineering Ltd
Matrix Composites & Engineering specializes in the design, engineering, and manufacture of composite and advanced material technology solutions for various industries including oil and gas, civil infrastructure, resources, defense, and transportation. With over 20 years of experience, the company is recognized as an industry leader and a major exporter of Australian goods and services, providing turnkey solutions with localized customer support from its offices in Australia and the United States.
Average Trading Volume: 474,871
Technical Sentiment Signal: Buy
Current Market Cap: A$55.95M
Learn more about MCE stock on TipRanks’ Stock Analysis page.