bullish

Expansion of engineering activity in the US

85 Views08 Aug 2017 16:15
Issuer-paid
SUMMARY

Carr’s Group has acquired US-based NuVision Engineering for a total cash consideration of up to US$20m (£15.4m). The transaction is immediately earnings enhancing. Importantly, it gives German-based Wälischmiller, which is part of the Carr’s Group Engineering division, greatly enhanced access to the US nuclear market. We raise our FY18 and FY19 estimates and revise our indicative valuation from 158p/share to 163p/share.

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