01:34 PM EDT, 10/08/2024 (MT Newswires) -- Calian Group ( CLNFF ) shares were last seen up 4.5% higher after the company on Tuesday said it secured a number of new contracts in its fiscal fourth quarter for its nuclear and environmental services division.

The company said the new contracts, 19 in total, are a 58% increase over the third quarter, mainly driven by the integration of MDA's nuclear assets and strong organic growth.

The new contracts span new nuclear projects in Ontario, Saskatchewan and New Brunswick, support life-extension programs for existing nuclear facilities and next-generation technologies like small modular reactors. This expansion has also led to a doubling of the division's workforce to meet the growing demand for fiscal 2025, Calian said.

"The integration of MDA's nuclear assets has been pivotal in expanding our capabilities and market reach within the nuclear sector," said Patrick Houston, Chief Financial Officer and Chief Development Officer. "This strategic acquisition has enabled us to deliver more robust and comprehensive solutions for our clients, further strengthening Calian's position as a leader in nuclear services."

Calian was last seen up $2.08, to $48.29 on the Toronto Stock Exchange.

Price: 48.25, Change: +2.04, Percent Change: +4.41