Mencast

Mencast: (The Edge) Disparate acquisitions and drive singular growth plan. CEO note that Mencast is moving from just making propellers and rudders to becoming a full MRO provider for the O&G industry. With latest acquisition of Vac-Tech (specialises in cleaning insides of refinery tanks and pipelines), Co. is moving towards serving major energy players that are making a slew of investments in the region. Since FY06, grp’s earnings have grown at a blistering 36% p.a, with half of grp’s rev from its offshore business, and abt 30-40% from marine services, while mkt cap has grown from $40m to $140m. Grp however has guidance that its new waste energy unit could generate as much as half of grp’s rev gonig forward.