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Volt Power (ASX:VPR) - Managing Director & CEO, Adam Boyd - The Market Herald
Managing Director & CEO, Adam Boyd
Source: Business News
  • Volt Power Group's (VPR) subsidiary, Wescone Distribution, has secured a five-year purchase service exchange repair contract with BHP Iron Ore (BHP)
  • Under the contract, BHP will replace around 20 existing crushers with the new Wescone W300 Series 4 crusher
  • The company has been working for over 20 months on this new crusher, which aims to resolve a number of BHPS's historical crusher performance issues
  • Wescone is estimating new average annual BHP sales and service revenues of $1.4 million
  • Volt is up 33.3 per cent on the market today and is trading for 0.2 cents per share

Volt Power Group's (VPR) subsidiary, Wescone Distribution, has secured a five-year purchase service exchange repair contract with BHP Iron Ore (BHP).

Under the contract, BHP will replace around 20 existing crushers with the new Wescone W300 Series 4 crusher. Wescone is estimating new average annual BHP sales and service revenues of $1.4 million.

The company has been working on a new crusher for over 20 months, aiming to resolve a number of historical crusher performance issues at BHP's port and mine operations.

Volt's CEO and Managing Director Adam Boyd is delighted to have secured the contract with BHP.

“This new BHP Contract will achieve enhanced long-term earnings performance
for the Volt group and the additional cashflow necessary to expand our equipment
fleet and deliver improved earnings growth," he said.

"Critically, this deal with BHP demonstrates the ability of the Volt team and its
engineering partners to deliver on the company’s strategy to develop innovative
equipment that compels client procurement decisions by delivering enhanced
productivity and significant cost benefits," he added.

Wescone is also currently in discussions with other parties for the supply and
ongoing service of the new Wescone W300 Series 4 crusher.

"The development of the Wescone W300 Series 4 crusher is another terrific example of BHP supporting and encouraging local Australian businesses to develop innovative, 'world-class' equipment delivering valuable benefits to the mining sector and enhancing the resource sector’s tremendous contribution to national economic prosperity and living standards in Australia," Adam said.

Volt is up 33.3 per cent on the market today and is trading for 0.2 cents per share at 1:44 pm AEST.


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