Montrose Environmental Subsidiary Bags Five-Year Contract Renewal For $43M

July 22, 2021 3:22 PM | 1 min read | Make a Comment

Montrose Environmental Group Inc MEG subsidiary Emerging Compounds Treatment Technologies ('ECT2') has renewed its contract for five years with the Australian Department of Defense to operate and maintain water treatment systems at three of the country's military bases.
The contract is valued at $43 million (AU$59 million GST inclusive) with an initial term of five years and provides for an additional five extensions each for one year in duration. The new contract began on July 13, 2021.
To date, ECT2 has successfully treated over 5 billion liters of surface and groundwater across Australia, ensuring that PFAS concentrations in treated water consistently remain below the recommended Australian health-based guidance.
Price action: MEG shares traded lower by 0.36% at $49.62 on the last check Thursday.

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