1132 ET - Miller Industries' organic growth is in line for an increase thanks to a new military contract with the Canadian government, says Michael Shlisky of D.A. Davidson. In a report, the analyst notes that Rheinmetall, a global defense contractor, secured a C$325 million contract to make recovery vehicles for the Canadian army. Miller will provide towing equipment for the 85-unit order. "We estimate that Miller's portion of the contract could be worth $50 million-$85 million over a five-year period," Shlisky says, which "could add a percent or two to its organic growth once it begins, with well-above-average margins." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
November 18, 2024 11:32 ET (16:32 GMT)
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