REG - Harland & Wolff - Contract wins

Harland & Wolff groupAnnouncement

20/02/2023 07:00

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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 £10
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 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)

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

 Nicholas How / Edward Mansfield / Lucas Bamber / Antonia Brown

 

 

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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