LONDON (Alliance News) - Air purification technology provider MayAir Group PLC on Thursday said it has secured a new contract win in its industrial division for USD7.1 million.
Under the contract, MayAir will supply BOE Technology Group Co Ltd with fan filtration units, filters and related clean room equipment.
BOE is a China-based company which manufactures and supplies internet-of-things technologies, products and services.
MayAir expects the project to complete during 2016 and therefore the revenue due from it will be recognised in the current financial year.
"Securing yet another partnership strongly reaffirms our continuing success in providing leading global clean air solutions for application in new buildings, in addition to our ability to retrofit with existing infrastructure which provides a stable recurring revenue stream for the group. We now have visibility of a significant percentage of our full-year revenue target, which provides reassurance and a solid platform for further growth," Chief Executive Yap Wee Keong said in a statement.
Shares in MayAir were trading up 9.9% at 49.99 pence on Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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