Opcon Jumps as Unit Wins Sludge Handling Order: Stockholm Mover
Opcon AB (OPCO) rose the most in almost one month in Stockholm trading after the Swedish maker of energy-saving technology’s Saxlund unit won an order for sludge handling equipment valued at 10 million kronor ($1.6 million).
The shares gained as much as 16 percent to 0.5 krona, the steepest intraday gain since March 21. They traded 9.3 percent higher at 0.47 krona as of 1:34 p.m. local time, with trading at 74 percent of the average daily volume in the past three months.
The order from the Kaeppala waste water treatment plant, which includes sludge handling systems and five sludge silos, will be delivered this year, Opcon said in a statement today. The company has already received orders for the same kind of equipment from Anglian Water Services Ltd. in the U.K. for five treatment plants. Kaeppala treats wastewater from more than half a million people in 11 municipalities in the north and east of Stockholm.
“With extensive operations in Germany, the U.K. and Sweden, we can offer innovative and well-tested solutions within most applications,” Saxlund Chief Executive Officer Stefan Wallerman said in the statement. “Our breadth, size and international presence ensure that our wastewater customers in Sweden can benefit from the lessons we learn on the continent.”
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