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Milestone Order for PWR in Aerospace and Defence

PWR Holdings Ltd has secured a major USD5.5 million (AUD8.9 million) order to supply advanced cooling solutions for a US government project. This marks an important milestone in the company's growth strategy within the Aerospace and Defence sector.

The order, scheduled for delivery in 2025, will be manufactured at both PWR's Australian and North American facilities, showcasing the company's vertically integrated and flexible approach. This is PWR's largest single order for Aerospace and Defence since building its dedicated team in 2020.

Matrix Lands $7 Million Riser Buoyancy Order

Matrix Composites & Engineering Ltd has received a new $7 million purchase order from Stena Drilling for a Deepwater Drilling Riser Buoyancy System. This order further solidifies Matrix's position as a premier supplier of drilling riser buoyancy systems.

The equipment will be produced at Matrix's Henderson facility, with around half of the order expected to be completed and delivered by mid-2025, and the remainder in the first half of fiscal year 2026. This latest contract award demonstrates the company's strong capabilities in the Subsea Buoyancy market.

Yancoal Australia CEO to Step Down

Yancoal Australia Ltd has announced that its CEO, David Moult, will be resigning after seven years with the company, including five as CEO. Ning Yue, the Chair of the Executive Committee, will serve as acting CEO until a permanent replacement is found.

Mr. Moult has decided to retire from full-time employment to focus on other business engagements. The Board will now undertake a comprehensive search to find the company's next CEO, ensuring a smooth transition.

Spartan Sells Gold Projects to Benz Mining

Spartan Resources Limited has completed the sale of its Glenburgh and Egerton Gold Projects in Western Australia to Benz Mining Corp. for A$1.0 million cash, 33 million Benz shares, and up to A$6.0 million in contingent payments.

The sale allows Spartan to focus on its flagship Dalgaranga Gold Project, which has seen promising exploration results. Spartan has also become a strategic 15% shareholder in Benz and will have ongoing involvement through a board nomination.

CAR Group to Exit Tyres Business

CAR Group Limited has announced it will be exiting its Australian Tyres business unit, comprising the tyreconnect wholesale division and the tyresales.com.au e-commerce platform. The Group has been unable to achieve sustainable profitability in the highly competitive tyre market.

Going forward, CAR Group will present its financial results on a Proforma basis, excluding the Tyres business. Despite the exit, the Group expects to deliver good growth in Proforma Revenue, EBITDA and Adjusted NPAT in the 2025 fiscal year.