RCS - Harland & Wolff - Arnish Trading Update

Harland & Wolff groupAnnouncement

13/04/2022 07:00

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RNS Number : 1885I  Harland & Wolff Group Holdings PLC  13 April 2022

13 April 2022

 

Harland & Wolff Group Holdings plc

("Harland & Wolff" or the "Company")

Arnish Trading Update

 

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company
focused on strategic infrastructure projects and physical asset lifecycle
management, is pleased to provide a trading update in relation to its fully
owned subsidiary, Harland & Wolff (Arnish) Limited.

Following the Company's announcement of Arnish's first contract win in
November last year for the fabrication of four suction piles for an offshore
energy project, the first two suction piles have now been completed and Arnish
is on track to complete the contract by the end of April. This contract has
been completed on time, on specification and on budget.

Further, the Company is pleased to report that Arnish has won a fabrication
contract to roll twelve Super Duplex Shells for the Hinkley C nuclear power
project. The first of the twelve structures will be rolled from tomorrow with
the project scheduled to be completed by the end of June.

Finally, Arnish has been busy with the fabrication of boat landings for the
Saipem contract. The first of eight boat landings will be despatched to Methil
next week for painting works with the second boat landing going out two weeks
thereafter. The cumulative contract value for these projects is estimated to
be in the region of £2 million - £3 million, as predicted by management.

Harland & Wolff, group CEO John Wood, commented:

"I am delighted to see that Arnish is very busy with a number of projects
being run in parallel. The team have done an excellent job to get the first
contract delivered on time and on budget. This performance has provided
immense credibility to the yard in its negotiations with a number of new
clients."

 

For further information, please visit www.harland-wolff.com
(http://www.harland-wolff.com/)  or contact:

 

 Harland & Wolff Group Holdings plc                                        +44 (0)20 3900 2122

 John Wood, Chief Executive Officer                                        investor@harland-wolff.com (mailto:investor@harland-wolff.com)

 Seena Shah, Head of Marketing & Communications                            media@harland-wolff.com (mailto:media@harland-wolff.com)

 Cenkos Securities plc (Nominated Adviser & Broker)                        +44 (0)20 7397 8900

 Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance)

 Michael Johnson (Sales)

 

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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