REG - Harland & Wolff - Execution of FSS Programme Manufacture Contract

Harland & Wolff groupAnnouncement

18/01/2023 13:00

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RNS Number : 0483N  Harland & Wolff Group Holdings PLC  18 January 2023

18 January 2023

 

Harland & Wolff Group Holdings plc

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

Execution of the Fleet Solid Support Programme (FSS) Manufacture Contract

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, further to its announcement on 16
November 2022 regarding the award of preferred bidder status, the formal
contract signature of the Manufacture Contract for the £1.6 billion Fleet
Solid Support Programme (FSS) has now taken place between Navantia UK Limited
(Navantia) and the Ministry of Defence (MOD).

The formal ceremony for the Manufacture Contract has taken place at Harland
& Wolff's Belfast facility today with Secretary of State the Rt Hon Ben
Wallace MP, senior industry leaders and representatives of each party of Team
Resolute in attendance. This contract now clears the way for the execution of
the sub-contract between Navantia and the Company, which is expected to occur
in the next couple of weeks. On the execution of the sub-contract, the Company
will make an announcement setting out in further detail, inter-alia, the scope
of works to be undertaken by the Company commencing immediately upon signing
of the sub-contract and leading up to full scale production on FSS.

John Wood, Group Chief Executive Officer, Harland & Wolff comments: "The
execution of the Manufacture Contract is the second major step towards
kick-starting the FSS Programme, with the Preferred Bidder announcement in
November as the first step. I look forward to finalising our negotiations on
the sub-contract with Navantia and proceeding to formal signing."

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)

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

 Nicholas How / Edward Mansfield

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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