RCS - Van Elle HoldingsPLC - Housing Sector Update

Van Elle HoldingsAnnouncement

12/07/2024 07:00

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RNS Number : 1302W  Van Elle Holdings PLC  12 July 2024

 

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

 

Housing sector contract award, strategic collaboration and factory expansion

 

Van Elle Holdings plc, the UK's largest ground engineering contractor,
announces a contract award, a new strategic collaboration and completion of an
investment in its precast pile factory.

 

Contract award and strategic collaboration

 

The Group has been awarded a scheme by Keepmoat at the former Boots site in
Nottingham, reflecting its balanced exposure to partnership housing alongside
open-market housebuilding.  The scheme is worth up to £3m across several
phases and is the largest single scheme awarded to its Housing division in the
last 12 months.  This will be the 15(th) project over the last three years
that Van Elle has delivered for Keepmoat.

 

This project will create a blueprint for a new strategic collaboration between
Van Elle and M&J Evans; the UK's largest groundworker in the housing
sector, with a complementary, national capability.  Under the agreement, Van
Elle and M&J Evans will work closely together nationally on a customer-led
basis to offer a more efficient, joined-up delivery model for housebuilders.

 

Investment in precast pile factory expansion

 

The Group also announces it has completed a capacity expansion project at the
precast pile factory at its headquarters in Kirkby in Ashfield,
Nottinghamshire.  The expanded factory, which is capable of 24-hour
manufacturing and utilises low carbon blended concrete mixes, sits alongside
the Smartfoot precast beam factory. This investment increases production
capacity by over 30%, positioning the business well to benefit from the
expected growing demand in the housing sector over the mid-term.

 

Chief Executive Officer, Mark Cutler commented:

"We are encouraged by the new Government's commitment to accelerate the
delivery of newbuild housing. We are ready to support incremental demand with
our expanded capacity and breadth of expertise, including our precast modular
Smartfoot foundation solution, which offers proven benefits compared to
traditional methods.  Although we anticipate housebuilding volumes to remain
subdued in the immediate future, orders in Housing for the year to date are up
20% compared to last year.  We believe the Company is well positioned to play
a leading partner role with a range of blue-chip customers, with whom we enjoy
high levels of repeat business."

 

 

For further information, please contact:

 Van Elle Holdings plc                                   Via Walbrook

 Mark Cutler, Chief Executive Officer

 Graeme Campbell, Chief Financial Officer

 Peel Hunt LLP (Nominated Adviser and corporate broker)  Tel: 020 7418 8900

 Ed Allsopp

 Charlotte Sutcliffe

 Tom Graham

 Walbrook PR Limited                                     Tel: 020 7933 8780

                                                         or vanelle@walbrookpr.com
 Tom Cooper                                              07971 221 972 or 07748 325 236

 Nick Rome

 

 

About Van Elle Holdings plc:

Van Elle Holdings is the UK's largest specialist geotechnical engineering
contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a
wide range of ground engineering techniques and services including ground
investigation, general and specialist piling, rail geotechnical engineering,
modular foundations, and ground improvement and stabilisation services.

 

Van Elle operates through three divisions: General Piling, Specialist Piling
and Rail, and Ground Engineering Services; and is focused on diverse end
markets including residential and housing, infrastructure and regional
construction - across which the Group has completed more than 20,000 projects
over the last 40 years. The Company acquired ScrewFast Foundations Limited in
April 2021 and Rock & Alluvium Limited in November 2023.

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