Stantec JV Secures Five-Year Water Infrastructure Program in Rapidly Growing Melbourne
STN is trading near its 52-week low of $72.46 (6.8% above the low).
Summary
Stantec's joint venture with Jacobs has secured a five-year contract to deliver Greater Western Water's infrastructure program in Melbourne, Australia. This significant win, also disclosed in a 6-K filing today, involves providing engineering and advisory services for critical water and sewer infrastructure in a rapidly growing region. The multi-year program will contribute to Stantec's backlog and revenue, reinforcing its position in the global water infrastructure market.
At the time of this announcement, STN was trading at $77.39 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $72.46 to $114.52. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.