REG - Harland & Wolff - Contract Award

Harland & Wolff groupAnnouncement

06/11/2023 07:00

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RNS Number : 3965S  Harland & Wolff Group Holdings PLC  06 November 2023

This announcement contains inside information.

 

6 November 2023

 

 

 

Harland & Wolff Group Holdings plc

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

 

Additional £8.5 million contract award from Cory Group

 

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 been awarded a further ten
barge contract from the Cory Group for a total value of £8.5 million. These
ten barges are in addition to the existing two contracts for the build of 23
barges that were awarded in 2022.

 

The barge programme continues to proceed apace with the work fulfilled across
the Company's sites in Belfast, Methil and Arnish.  Eight barges have been
delivered to date and the Company is expected to complete the entire programme
by H1 2025.

 

John Wood, CEO of Harland & Wolff Group Holdings comments:

 

"I am delighted that the Cory Group have contracted with us for the build of a
further ten barges following the ongoing delivery of barges under the original
contract. With three sites within the Group now fabricating for Cory, this has
given us the opportunity to de-risk the contracts and provide optionality to
both the client and ourselves. More importantly, every fabrication contract
gives us the ability to add greater levels of vigour to our processes,
protocols and methodologies ahead of fabricating for the FSS Programme. I wish
to thank Cory for this additional opportunity which demonstrates their
confidence in our work."

 

 

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)

 Arun Raman, Chief Finance Officer                                         media@harland-wolff.com (mailto:media@harland-wolff.com)

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

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

 Michael Johnson (Sales)

 Liberum Capital Limited (Joint Broker)                                    +44 (0)20 3100 2000

 Nicholas How / Edward Mansfield

 Radnor Capital Partners (Investor Relations)                              +44 (0) 20 3897 1838

 Neville Harris / Joshua Cryer

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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