Matrix Composites and Engineering: Secures $14m purchase order

Matrix Composites and Engineering: Secures $14m purchase order

• Matrix Composites and Engineering (MCE) has secured a $14 million purchase order for the supply of a Deepwater Drilling Riser Buoyancy System
• The order comes from Himile Mechanical Manufacturing and follows on from a Letter of Intent, secured in December
• The company will develop the riser buoyancy modules and riser protection system to support a new build deepwater floating rig project in Asia
• The equipment will be built at its facility in Western Australia, with completion and shipment expected in the March quarter of next year
• Shares were trading 14.3 per cent higher today at 16 cents each at 2:52 pm AEST