PWR secures milestone order in Aerospace and Defence

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Stock PWR Holdings Ltd (PWH.ASX)
Release Time 14 Jan 2025, 2:17 p.m.
Price Sensitive Yes
 PWR secures milestone order in Aerospace and Defence
Key Points
  • PWR's North American subsidiary secures USD5.5 million (AUD8.9 million) order
  • Order to supply advanced cooling solutions for a US government project
  • Order scheduled for delivery in calendar year 2025
  • Marks an important milestone in PWR's growth strategy within Aerospace and Defence sector
Full Summary

PWR Holdings Limited ('PWR', ASX: PWR) has announced that its North American subsidiary, C&R Racing Inc., has secured a USD5.5 million (circa AUD8.9 million) order to supply advanced cooling solutions for a US government project. This order, scheduled for delivery in calendar year 2025, represents an important milestone in PWR's growth strategy within the Aerospace and Defence sector. PWR's vertically integrated and flexible manufacturing approach means this order will be manufactured at both its Australian and North American sites. The order supports low-rate initial production and, if successfully delivered, has the potential to unlock long-term opportunities for the same platform. Managing Director, Kees Weel, stated that this is PWR's largest single order for Aerospace and Defence since the company decided to build its own Aerospace and Defence team in 2020. The decision to leverage PWR's market-leading advanced cooling technology and expertise from Motorsport into Aerospace and Defence is now delivering tangible results, validating both the strategy and the investment made in building capability in this attractive sector. The Managing Director acknowledged the Aerospace and Defence team of engineers and the highly skilled manufacturing technicians for their ongoing focus and commitment to establishing PWR as a trusted name in Aerospace and Defence. This order represents an exciting step forward for PWR and reinforces the company's position as a leader in advanced cooling technology.

Guidance

PWR expects this order to contribute to its financial performance in the 2025 calendar year.

Outlook

This order represents a significant milestone in PWR's growth strategy within the Aerospace and Defence sector and has the potential to unlock long-term opportunities for the same platform.