Monday, March 27, 2023

ACS succumbed to the stock market slump, despite a 2.669 million contract in Hawaii. to reconcile

ACS succumbs to broadsides and falls into the Spanish market and retreats from all-time highs. And all this despite the fact that it was recently revealed that the group, through a ‘joint venture’ led by its subsidiary Dragados, has been selected by the Navy to execute the Dry Dock Replacement Project 3 at the Joint Base Pearl Harbor Hickam in Hawaii at a cost of 2,839 million dollars (2,669 million thousands of coins).

ACS accumulates a stock market growth of 5.5% this 2023, the year in which it reached its annual maximum at the closing of 28.92 European coins, thus achieving its all-time high in 2019 and approaching 30.34 European coins. But the construction of the company, which is chaired by Florentino Pérez, has been suspended since last Thursday, due to the banking crisis in the US.

In fact, this Monday’s intraday value subtracted 1.8%, trading at 27.75 and retreating from those historical closing levels. And all this in spite of good business. And it is just that the ACS Group, through a joint venture led by its subsidiary Dragados, has been selected by the US Navy for the execution of the Dock 3 Dry Dock Project in the Berry Harbor Hickam Joint Base in Hawaii for the amount of 2,839 million dollars (2,669 million dollars ).

The contract also contains a number of optional items, which if executed could command up to 3,417 million dollars (3,212 million cash).

Prior to the construction contract, Dragados worked closely with the US Navy in 2021, through a collaboration contract to develop methods and technical innovations to develop the project.

Dredging companies have now been selected for the construction of this dry dock which will be used for the maintenance of future nuclear submarines. This project represents the first major construction contract awarded within the $8,000 million program for shipyard improvement works in Hawaii and Washington state, in which Dragados will continue to participate as one of five selected teams. Navy

Nation World News Desk
Nation World News Desk
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