REG - Harland & Wolff - RNLI Framework Agreement

Harland & Wolff groupAnnouncement

08/11/2021 07:05

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RNS Number : 5832R  Harland & Wolff Group Holdings PLC  08 November 2021

8 November 2021

Harland & Wolff Group Holdings plc

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

 

Framework Agreement with the Royal National Lifeboat Institution

 

Harland & Wolff Group Holdings plc (AIM: HARL), the shipyard and energy
infrastructure group with over 160 years of maritime and offshore engineering
pedigree, is delighted to announce that its subsidiary, Harland & Wolff
(Appledore) Limited ("Appledore") has signed a framework agreement with the
Royal National Lifeboat Institution ("RNLI") for the haul-out, repairs,
maintenance, refurbishment and associated works for the RNLI's fleet of
lifeboats.

Under the terms of this framework agreement, Appledore will be responsible for
the repairs, maintenance and other works programmes defined by RNLI for its
fleet of lifeboats and other vessels. This agreement will span multiple years
and each docking will be priced as a bespoke agreement based on the scope of
works required to be performed on each vessel that comes into Appledore. The
RNLI currently has a fleet of 431 lifeboats and 238 lifeboat stations that
will require repairs and maintenance on a regular basis in order to keep them
active and ready for deployment. Appledore will be working in conjunction with
RNLI's internal team to perform defined works programmes on vessels that come
into the yard. Whilst the size of each individual programme is not expected to
be significant, given the size of a fleet, the Company expects meaningful
cumulative volumes and revenues on an annual basis. Further, the Board
considers the establishment of this relationship to be further validation of
the Company's strategy of creating a local presence around major ship repair
and fabrication hubs in the UK with a view to creating a consistent and
long-term client base at each of its facilities.

John, Wood, Group CEO of Harland & Wolff, commented: "I am delighted that
Appledore has signed this framework agreement with the RNLI. The RNLI is a
much-respected institution and we are privileged to be hosting its vessels at
Appledore. Our capacity, capability and proximity to the RNLI's main centres
of activity has been crucial to the award of this contract. This, once again,
demonstrates that our strategy to be geographically diverse in order to
attract local business is sound and bearing fruit. I look forward to a
long-standing and growing relationship with the RNLI in the months and years
ahead and will be looking at opportunities to support them, not only from
Appledore, but also from all our sites across the UK."

 

This announcement contains inside information.

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

 

 InfraStrata plc                                         +44 (0)20 3900 2122

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