Kentz Corp announces "significant" Canadian contract

I mentioned Kentz Corp a few days ago in this post about Wood Group. The general feeling being that ahead of its results to be announced on 25th March it was being overlooked by the market. Certainly and barring no surprises in those results, it looks undervalued compared to other similar companies in the sector which have seen a significant rise in their share price after their result announcement and sometimes before with the market anticipating the good news. By comparison Kentz has been in the doldrums in the last few weeks, which is surprising for a share that is usually quite volatile, both up and down. Today it had an announcement of further good news ahead of those results.

Kentz Corp., the holding company of the Kentz engineering and construction group, has announced the award of a commissioning agreement with Imperial Oil Resources Ventures, covering services in the Athabasca oil sands in northern Alberta, Canada.

The contract, which is described as having a "significant" value, will run until 2016.

Under the agreement Kentz will provide management and discipline specialists to support electrical, instrumentation, mechanical, systems completions and start-up assistance. The contracts will be executed through Kentz's Technical Support Services (TSS) business unit.

Michael Murphy, the Chief Operating Officer of Technical Support Services for Kentz, said: "Kentz is delighted to be awarded an additional and significant contract by Imperial Oil.

http://www.digitallook.com/news/20759331/Kentz_unveils_significant_contract_in_Canada.html?username=&ac=

Still worth noting that date of 25th March to see what the company announces in its results.