- ZK International ( NASDAQ: ZKIN ) stock gained 28% on Tuesday after the firm said it won a $75M bid for the Shenzhen water market project.
- The bid is for supplying stainless-steel pipes and fittings for the high quality drinking water household project (phase 7 and 8) and community water supply network renovation project (phase 7 and 8).
- Total investment for these projects is ~$600M, of which stainless steel pipes and fittings account for 17% (or ~$75M).
- ZKIN expects to supply ~40% of the projects, resulting in ~$30M in sales for the company.
- Shares of ZKIN climbed ~17% YTD but declined ~56% in the last 1 year.
For further details see:
ZK International stock gains on $75M bid for Shenzhen water market project