DOW 1.77% $5.55 downer edi limited

downer edi announcement, page-5

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    Downer only operates non-smartcard systems. That is why they went into JV with a UK company. Downer are the existing contractor to the Perth bus system (TransPerth) which isn't smartcard based. Their tender was 30% lower than ERG's. Looks to me like they were buying market share not putting in a profitable tender. That is why their shares stayed the same after the announcement. They won't make any money from it.
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