RCS - Hercules Site Svcs - Costain Labour Framework Agreement

Hercules Site ServicesAnnouncement

15/04/2024 07:00

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RNS Number : 5094K  Hercules Site Services PLC  15 April 2024

15 April 2024

 

Hercules Site Services plc

 

("Hercules" or the "Company")

 

Costain Labour Framework Agreement

 

Hercules Site Services plc (AIM: HERC), a leading technology enabled labour
supply company for the UK infrastructure and construction sectors, is pleased
to announce that it has joined the UK-wide labour framework of Costain Ltd,
part of Costain Group plc ("Costain"), after a successful tender process.

 

Costain has announced that a newly formed Integrated Labour Team ("ILT") will
become the first point of contact for any blue-collar labour supply
requirement for any project, across all sectors in which it operates. These
sectors include water, rail, highways, defence, energy, nuclear, oil and gas
and aviation.

 

The move comes after Costain, a long-standing client of Hercules, decided to
significantly reduce its supply chain for skilled blue-collar infrastructure
and construction workers. Hercules is one of four labour suppliers on the new
ILT.

 

Brusk Korkmaz, Chief Executive Officer, said: "We are delighted to further
cement our relationship with Costain. We have been working together on a
project-by-project basis for over a decade.

"This agreement between our companies means Hercules has the potential to work
across all of Costain's projects and sectors beyond highways and water, where
we are currently partnered.

"The agreement is also further testament to Hercules' growing reputation
across the infrastructure and construction sectors as one of the UK's leading
labour suppliers."

Sarah Thomas, Head of Supply Chain at Costain Group PLC, said: "Our
partnership with the ILT brings added value and benefits to Costain and is
changing how temporary operational resource is considered.

"The ILT holds expert market information, useful for resource planning and
winning bids.  We can engage with ILT earlier to confirm a pipeline of
resources.  And we have real employment terms for temporary operational
resources, ensuring fairness, wellbeing, and ongoing engagement."

For further information and enquiries, please contact:

 

 Hercules Site Services plc                                                         c/o SEC Newgate

 Brusk Korkmaz (CEO)

 Paul Wheatcroft (CFO)

 SP Angel (Nominated Adviser and Joint Broker)                                 +44 (0) 20 3470 0470

 Matthew Johnson / Adam Cowl (Corporate Finance)

 Grant Barker / Rob Rees (Sales and Broking)

 Cavendish Capital Markets Limited (Joint Broker)                              +44 (0) 20 7397 8900

 Adrian Hadden / Charlie Combe / Dale Bellis (Sales and Broking)

 SEC Newgate (Financial Communications)                                       +44 (0) 20 3757 6882

 Elisabeth Cowell / Ian Silvera / Matthew Elliott                  Hercules@secnewgate.co.uk

 

About Hercules Site Services PLC

 

Hercules is a leading tech enabled labour supply company for the UK
infrastructure sector. Founded in 2008, Hercules has an established track
record of profitability and fast-growth and has built a blue-chip customer
base which includes Balfour Beatty, Costain, Kier, Skanska, Dyer & Butler
and Volker Fitzpatrick. The Company has been appointed to provide labour for a
range of high-profile infrastructure projects, such as HS2, due to its agile,
innovative, digital first approach and complete service offering. It is
well-placed to benefit from any government increase in infrastructure spending
and its experienced management team has identified multiple opportunities for
growth.

 

About Costain

 

Costain helps to improve people's lives by creating connected, sustainable
infrastructure that enables people and the planet to thrive. We shape, create
and deliver pioneering solutions that transform the performance of the
infrastructure ecosystem across the UK's transport, energy, water, and defence
markets. We are organised around our customers anticipating and solving their
challenges and helping to improve performance. By bringing together our unique
mix of construction, consulting and digital experts we engineer and deliver
sustainable, efficient and practical solutions.

 

 

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