Xylem Wins Contract in Singapore

Water technology solutions provider, Xylem Inc. (XYL), seems to be in full force to accomplish its target to expand internationally. The company has won many international contracts in the recent past, including in regions like United Arab Emirates, Colombia, China and more recently in Singapore.

Last week, the company won an equipment and service contract from the Singapore Land Transport Authority worth $6.5 million (S$8.2 million). Per the contract, Xylem will provide different water handling equipment, including WEDECO Spektron UV disinfection units, Flygt submersible drainage pumps and Lowara eSV booster pump sets. Along with these, Xylem will also provide associated control panels and level regulators.

The contract constitutes the pumping system for phases 2 and 3 of the Downtown Line Mass Rapid Transit project. The company will be providing its equipment in order to facilitate the construction and operation of the 42 kilometers driverless transit line, which is scheduled to be completed in 2017.

Xylem’s association with the Singapore Land Transport Authority dates back to 1984, with more than 1,000 of the former’s products serving the latter.

This is the third contract win for the company in less than a month. In mid-September, Xylem won a $0.5 million contract to provide wastewater services in Tolu, a town located on the Caribbean coast of Colombia.

Last month, Xylem received the largest ozone contract in China worth roughly $1.87 million (RMB 11.48 million). Under the contract, the company will supply an ozone generation and introduction system, which will provide a safe municipal water supply in Jinshan, Shanghai.

Xylem currently carries a Zacks Rank #2 (Buy). Other stocks sharing the same industry that warrant a look include, The Babcock & Wilcox Co. (BWC), Dover Corp. (DOV) and Ingersoll-Rand Plc (IR). Each of these stocks carry a Zacks Rank #2 (Buy).

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