Australia’s LWP Technologies soars on India JV agreement

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Published: July 20, 2015 8:43:00 AM

Shares of LWP Technologies Ltd up as much as 23.1 pct to hit A$0.016, its highest since June 29

Shares of LWP Technologies Ltd up as much as 23.1 pct to hit A$0.016, its highest since June 29

Enters into JV Agreement with Hallmark Minerals (I) Pvt for production of proppants in India

Adds that Co will own 60 pct of JV Co and will receive $1 mln for technology license for state of Maharashtra in India

The provider of technical services to energy sector says will additionally receive 10 pct of gross revenues in royalties for license

About 68.8 mln shares changed hands on early trading on Monday, compared with 30-day average of 29.2 mln shares

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