Shares of Garda World Security Corporation (TSX: T.GW, Stock Forum) climbed 15.8% to $1.98 Tuesday after the Quebec-based company announced that it has negotiated a more than $300 million two-year extension with the Canadian Air Transport Security Authority for all of Garda's existing contracts for passenger and baggage security screening operations at 26 airports in Canada.
Garda entered into an initial contract with the Canadian Air Transport Security Authority in 2004.
The company, which is involved in physical security and in the management of airport security screening operations, says the contracts extension is for a two-year period from April 1, 2009 until March 31, 2011.
Stockhouse member Junit made the following comments on the company’s Bullboard: “This is a huge contract and really helps sure up the balance sheet of garda. Jmho[sic]”.
