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Synertec Corporation non-executive director shows confidence in company through on-market purchase

The company provides specialist engineering and compliance services across the oil and gas, pharmaceuticals, water, petro-chemical, terminal and defence industries.

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The company is a multi-disciplined engineering consulting firm

Synertec Corporation Ltd (ASX:SOP) non-executive director Leanne Kay Bond has shown faith in the company with the purchase of indirect shares in an on-market transaction.

Bond acquired 2,097,702 indirect ordinary shares on May 8, 2019 and now holds a total of 2,185,576 ordinary shares. 

READ: Synertec Corporation wins contract at Mammoth Gorgon LNG Project

In March the company won a contract to design, build and commission a new custody transfer system at the Chevron Australia-operated Gorgon Project.

The system is for metering, sale and transfer of condensates processed at the project.

Synertec’s managing director Michael Carroll said: “This system is complex and highly technical and is ‘mission critical’ for the effective transfer of high-value condensate product.

“We are applying our locally developed expertise from LNG custody transfer to a different, but allied product stream.”

READ: Synertec Corporation increases revenue by 173%, shares up 11%

Carroll added: “It is gratifying that our strategy to create word-leading innovative solutions and capability in specific, high value market ‘verticals’ is delivering positive results.”

Quick facts: Synertec Corporation Ltd

Price: 0.02 AUD

ASX:SOP
Market: ASX
Market Cap: $4.41 m
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