Ionics lands major desal contract
- From: Vol 4, Issue 11 (November 2003)
- Category: Market insight
- Region: Unspecified
- Country: Algeria
- Related Companies: Ionics
Hamma deal pushes company to 52-week high.
On October 21, Ionics announced that it was awarded a 25-year build-own-operate desalination contract with Algerian Energy Company (see page 17). Following the news, Ionics’ stock price jumped by almost 10% to a near 52-week high. However, analysts warn that the market may be overreacting and the stock value may overstate the company’s near term prospects. The Algerian contract ...
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