Matrix Composites & Engineering (ASX:MCE) - CEO, Aaron Begley (left)
CEO, Aaron Begley (left)
Source: Drilling Contractor
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Matrix Composites & Engineering (MCE) has signed a three-year agreement with oil and gas giant Woodside Petroleum (WPL)
  • Under the agreement, Matrix will provide its engineering services to one of Woodside’s subsidiaries, Woodside Energy Technologies
  • It will utilise its knowledge in advanced materials technology, composite materials, and advanced manufacturing
  • While it’s for an initial three year period, there are two one-year options to extend
  • Shares in Matrix are up a healthy 17.9 per cent and are trading at 16.5 cents

Matrix Composites & Engineering (MCE) has signed a three-year agreement with oil and gas giant Woodside Petroleum (WPL).

Under the agreement, Matrix will provide its engineering services to one of Woodside’s subsidiaries, Woodside Energy Technologies.

It will utilise its knowledge in advanced materials technology, composite materials, and advanced manufacturing.

While it’s for an initial three year period, there are two one-year options to extend.

Matrix specialises in the design, manufacture, and engineering of composite and advanced material technology solutions for the civil, infrastructure, resources, oil and gas, transport, and defence industries.

“We recently formed a technology group to increase penetration of Matrix’s advanced materials technologies into operations and brownfields projects and I am excited we have secured this significant strategic agreement as one of only three key technology providers to Woodside Energy Technologies,” CEO Aaron Begley commented.

“Matrix is already executing several projects for Woodside and this agreement further strengthens our relationship with an important customer,” he said.

“The combination of our expertise in materials science and advanced manufacturing enables Matrix to deliver solutions that traditional materials cannot,” he added.

Shares in Matrix are up a healthy 17.9 per cent and trading at 16.5 cents at 3:02 pm AEDT.

MCE by the numbers
More From The Market Herald

" Intelligent Monitoring Group (ASX:IMB) to acquire Mammoth Technology for $4m

Intelligent Monitoring Group (ASX:IMB) has entered an agreement to acquire all the shares in Mammoth Technology…

" Johns Lyng Group (ASX:JLG) CEO and COO sell shares worth $12.5m

Johns Lyng Group (ASX:JLG) has advised¬†Managing Director and CEO Scott Didier, along with Executive Director and…
The Market Herald Video

" Titomic (ASX:TTT) on track to deliver world’s first mould coatings system

Additive manufacturing company Titomic (ASX:TTT) is on track to deliver the world's first automated cold spray…

" Environmental Clean Technologies (ASX:ECT) signs MoU to recycle old tyres

Environmental Clean Technologies (ASX:ECT) has signed a memorandum of understanding with Green Distillation Technologies (GDT).