Global providers of mining products and services, Industrea have announced that they have secured a new $10 million contract with the China Shenhua Energy Company to supply seven Industrea Mining Equipment (IME) heavy long wall roof support ‘chock’ carriers for the Jinfeng Coal Company and Wanli Coal Group mines.
It is the second contract announced by Industrea with the China Shenhua Energy Company.
Recently, Industrea secured a $25 million contract to provide 17 IME heavy long wall roof support carriers for use at the China Shenhua Energy Company’s Shendong mine, the largest coal mine in China.
Managing director and CEO Robin Levison said that the new contract brings to more than $55 million the value of contracts secured by Industrea since June 2008.
According to him, these contracts reinforce Industrea as a trusted name in the Chinese mining industry. He added that the weakness in the global financial market had not impacted the demand for Industrea’s key products and services.
Levison concluded that Industrea are on target to meet their existing guidance of revenues in the range of $330 to $350 million and adjusted net profit after tax in the range of $55 to $60 million.