This announcement contains inside
information.
6 March 2024
Harland & Wolff Group
Holdings plc
("Harland
& Wolff" or the "Company")
New Contract Win -
Arnish
Harland & Wolff Group Holdings
plc (AIM: HARL), the UK quoted company focused on
strategic infrastructure projects and physical asset lifecycle
management, is pleased to announce that it has signed a
five-year Master Services Agreement for the fabrication of large
structures with a global oil services company supplying subsea
infrastructure across the major hydrocarbon basins around the
globe.
The Company has now received its
first purchase order under that agreement to fabricate six subsea
structures with a contract value of approximately £3 million. These
highly specialised structures are used in oil and gas platforms and
the surrounding infrastructure, capable of withstanding pressures
of 430 bar (6,235 psi) and as such are mission critical
parts.
These structures will be built over
the next 18 months at the Company's Arnish site in a staged
delivery programme with an expected completion date in H1
2025.
John Wood, CEO of Harland &
Wolff Group Holdings commented:
"I
am delighted that Arnish is recognised as a centre of excellence to
deliver critical subsea infrastructure. This contract marks a
significant step for the Company and builds on the highly technical
work the yard has already undertaken on suction anchors, piles and
the work it is currently performing for the Sea Rose FPSO Contract.
These specialised subsea structures are a new product area for
Harland & Wolff and we expect that successful delivery of this
contract will open up significant opportunities for additional
contracts in subsea infrastructure going
forward."
For
further information, please
visit www.harland-wolff.com or
contact:
|
Harland & Wolff Group Holdings plc
John Wood, Chief Executive
Officer
Arun Raman, Chief Finance
Officer
|
+44 (0)20 3900 2122
investor@harland-wolff.com
media@harland-wolff.com
|
|
h2Radnor (Investor Relations)
Neville Harris
|
+44 (0) 20 3897 1838
|
|
Cavendish Capital Markets Limited (Nominated Adviser
& Broker)
Stephen Keys / Callum
Davidson / Dan Hodkinson (Corporate
Finance)
Michael
Johnson (Sales)
|
+44 (0)20 7397 8900
|
|
Liberum Capital Limited (Joint Broker)
Nicholas How / Edward
Mansfield
|
+44 (0)20 3100 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.
