REG - Hercules Site Svcs - New Suction Excavator Services Client

Hercules Site ServicesAnnouncement

07/03/2023 07:00

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RNS Number : 0699S  Hercules Site Services PLC  07 March 2023

7 March 2023

 

 Hercules Site Services plc

 

("Hercules" or "the Company")

 

New Suction Excavator Services Client

 

Hercules Site Services plc (AIM: HERC), a leading technology enabled labour
supply company for the UK infrastructure sector, is pleased to announce that
it has entered into an agreement with Amey Highways Limited ("Amey") to be
Amey's sole supplier of suction excavator services to the National Highways
Area 7 (East Midlands) contract.

 

Under the terms of the agreement, Hercules will supply suction excavators and
associated skilled operators to Amey for a period of three years. The initial
order is for up to £2,000,000, and will be reviewed every three years, or
earlier if required. This agreement is in line with Hercules' objective of
maintaining a high utilisation rate across its suction excavator fleet. Amey
is a new client of Hercules' suction excavator services.

 

As previously announced, due to high demand, Hercules is expecting further
deliveries of suction excavators in March, increasing the Company's fleet from
20 to 30 suction excavators.

 

Brusk Korkmaz, Hercules' Chief Executive Officer, commented:

 

"This agreement with Amey is an excellent validation of our suction excavator
services strategy, which has seen us rapidly expand our fleet over the past 12
months. We will soon have one of the largest fleets in the UK, positioning us
to capture strong demand being driven by the fact that suction excavators can
safely and efficiently excavate significant quantities of materials or debris,
while reducing the risk of service strikes.

 

"The UK infrastructure market continues to go from strength to strength and we
are well placed to benefit from this with our multi-disciplinary services
offering. Most recently, we were pleased to see that two of our major
customers and strategic framework partners, Balfour Beatty Highways and
Galliford Try, have both been awarded major projects. The former has been
appointed to deliver National Highways 'Roads North of the Thames' package of
works for the proposed Lower Thames Crossing, while Galliford Try's
Environment business has secured a place on Southern Water's new AMP8
framework."

 

 

 

 

-ENDS-

 

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 Broker)                                           +44 (0) 20 3470 0470

 Matthew Johnson / Adam Cowl / Harry Davies-Ball (Corporate Finance)

 Grant Barker / Rob Rees (Sales and Broking)

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

 Elisabeth Cowell / Ian Silvera                                        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.

 

 

 

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