The Utility Asset Management (UAM) business unit of ASX-listed UXC (ASX: UXC), has recently landed three large contract renewals valued at about $40 million.
The combined contracts are centred on asset creation and maintenance services, a core business for UAM.
The renewals bring the value of UAM’s contracts to more than $120 million.
One of the renewal contracts is with telco giant Telstra’s aerial network maintenance across the country.
The majority of the work involves pole inspection, reinforcement and relocation, along with minor maintenance.
The contract will expire in July 2012.
The other two contracts are within the electrical asset management arena with Queensland-based Energex and Western Australia-based Western Power.
The Energex deal involves the installation and maintenance of overhead service lines across all areas of the Energex distribution network.
Under Western Power, UAM will be responsible for pole reinforcement across its distribution and transmission networks.
On the back of its success, UAM is seeking to expand certain areas of its operations in to the UK and US.