WGN +11.76%: building materials company Wagners rallied today after announcing they had won the contract to supply cement tunnel segments for the Western Sydney airport development. 67,000 segments will be required to build around 10km of tunnels for the metro lines being developed as part of the new airport with Wagners expecting to reap around $140m over the life of the delivery. It’s a good win for the Queensland focused company, moving out of their main state to win a big contract. It also covers a good portion of FY23 & FY24 revenue growth expectations in the market.
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