Shipping and freight company Toll Holdings (ASX:TOL) has won a contract worth over $1 billion to provide relocation services for the Department of Defence.
The five-year contract, which was awarded after a tender process, will be signed as soon as the final contractural issues are resolved, CEO Paul Little said.
“Defence require over 22,000 removals and 23,000 relocations to be managed each year under this contract, which is the largest of its type in Australia.”
Little added that the contract also has the option for up to four one-year extensions, which if taken will bring its total value to closer to $2 billion.
This explains how toll had enough money to purchase the freight company over in the US this week. Plenty of local govt contracts to ensure the company is cashed up
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