Harland & Wolff Group Holdings PLC Contract wins (3590Q)
February 20 2023 - 1:00AM
UK Regulatory
TIDMHARL
RNS Number : 3590Q
Harland & Wolff Group Holdings PLC
20 February 2023
This announcement contains inside information
20 February 2023
Harland & Wolff Group Holdings plc
("Harland & Wolff" or the "Company")
Contract wins
Harland & Wolff Group Holdings plc (AIM: HARL), the UK
quoted company focused on strategic infrastructure projects and
physical asset lifecycle management, announces that it has secured
six new smaller contracts within the defence, cruise & ferry
and commercial fabrication markets.
Pursuant to these contracts, the Company will undertake routine
repairs as well as new fabrication works, to be carried out across
the Company's yards in Belfast, Appledore and Arnish. These
contracts, which have been entered into with various prime
contractors and operators, are expected to be completed during the
next 12-18 months and have an aggregate value in excess of GBP10
million.
Whilst the Company is bound by confidentiality in terms of
disclosing certain contractual details and client names, it can
confirm that works on four of these contracts will commence this
month in Belfast, and will involve fabricating a drydock gate for a
client that operates a defence facility, repairs on a jack up barge
that is used for installation of offshore structures, as well as
regular repair works on five vessels comprising a product tanker
and four ferries. In Arnish, the Company has been contracted to
undertake additional fabrication works for an ongoing mining
project. Furthermore, the Company has been contracted to fabricate
a frame at its Appledore facility for a prime contractor as part of
its ongoing defence programme.
John Wood, Group Chief Executive Officer, Harland & Wolff
comments:
"Since the commencement of 2023, we are seeing an uptick in the
level of enquiries flowing through all the yards for multiple
projects. Whilst securing the longer-term FSS Programme as part of
team Resolute was a major milestone for the Company, the Company
must continue to rely on securing and executing smaller projects
across its yards, adding to the experience and skills of the
workforce. I am delighted that we have significant traction across
all our markets and are moving forward to consolidate our position
as a partner of choice in each market."
Harland & Wolff Group Holdings plc +44 (0)20 3900
John Wood, Chief Executive Officer 2122
Seena Shah, Head of Marketing & Communications investor@harland-wolff.com
media@harland-wolff.com
Cenkos Securities plc (Nominated Adviser
& Broker)
Stephen Keys / Callum Davidson / Dan Hodkinson
(Corporate Finance) +44 (0)20 7397
Michael Johnson (Sales) 8900
----------------------------
Liberum Capital Limited (Joint Broker)
Nicholas How / Edward Mansfield / Lucas +44 (0)20 3100
Bamber / Antonia Brown 2000
----------------------------
About Harland & Wolff
Harland & Wolff is a multisite fabrication company,
operating in the maritime and offshore industry through five
markets: commercial, cruise and ferry, defence, energy and
renewables and six services: technical services, fabrication and
construction, decommissioning, repair and maintenance, in-service
support and conversion.
Its Belfast yard is one of Europe's largest heavy engineering
facilities, with deep water access, two of Europe's largest
drydocks, ample quayside and vast fabrication halls. As a result of
the acquisition of Harland & Wolff (Appledore) in August 2020,
the company has been able to capitalise on opportunities at both
ends of the ship-repair and shipbuilding markets where there will
be significant demand.
In February 2021, the company acquired the assets of two
Scottish-based yards along the east and west coasts. Now known as
Harland & Wolff (Methil) and Harland & Wolff (Arnish),
these facilities will focus on fabrication work within the
renewables, energy and defence sectors.
In addition to Harland & Wolff, it owns the Islandmagee gas
storage project, which is expected to provide 25% of the UK's
natural gas storage capacity and to benefit the Northern Irish
economy as a whole when completed.
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