Join our daily newsletter At The Bell to receive exclusive market insights
- Acrow Formwork and Construction Services (ACF) has secured a series of new contracts for its shoring system
- The company’s Acrow Powershore system was awarded $2.2 million in new hire contracts in May and June
- The contracts relate to projects in Brisbane, Sydney, Melbourne, and Western Australia
- In related news, Acrow’s screen designed company Natform is expected to post its highest half-year revenue in the upcoming 2021 financial year
- Acrow Formwork and Construction Services is up 1.69 per cent in early trade, with shares selling for an even 30 cents each
Acrow Formwork and Construction Services (ACF) has secured a series of new contracts for its shoring system.
The company’s s Acrow Powershore system was awarded $2.2 million in new hire contracts in May and June.
Through the contracts, the company will provide services for The Queen’s Wharf development in Brisbane, The Barangaroo Station in Sydney, Metro Rail in Melbourne, and a commercial car park project in Western Australia.
The contracts are expected to begin next month and run for between six months and a year.
Acrow’s screen designed company Natform has also seen an increase in interest in the last few months. Consequently, Acrow expects Natform to post its largest half-year revenue in the upcoming 2021 financial year, since Acrow acquired the company in August 2018.
The company attributes Natform’s rise in revenue to business growth in Victoria and New South Wales.
CEO of Acrow, Steven Boland, commented on the company’s recent performance.
“I am heartened to see Acrow Powershore becoming readily accepted as a leading shoring system by major contractors for use on projects across the country and a range of applications,” he said.
He also went on to comment on Natform’s performance and contribution to the company’s product portfolio.
“I am also pleased to see that Natform is now trading to its true potential, with a strong outlook over the next six months. The Natform engineering team, along with all their counterparts in the broader Acrow Group, are at the cutting edge of developing new, innovative products in this rapidly evolving area,” Steven continued.
Steven went on to say the company is well-positioned to win several contracts for upcoming major civil infrastructure and industrial scaffold-related projects in the next few months.
Acrow Formwork and Construction Services is up 1.69 per cent in early trade, with shares selling for an even 30 cents each at 10:14 am AEST.
