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Share Price Information for Harland & Wolff (HARL)

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Share Price: 9.00
Bid: 8.75
Ask: 9.25
Change: 0.25 (2.86%)
Spread: 0.50 (5.714%)
Open: 9.00
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Low: 8.875
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Harland & Wolff completes first hull in Cory fabrication contract

Thu, 16th Feb 2023 12:37

(Alliance News) - Harland & Wolff Group Holdings PLC on Thursday said the first hull for its Cory barges fabrication contract has been completed at its Belfast facility.

The Belfast-based fabrication company for the commercial, cruise and ferry, defence, energy and renewables markets said the client has approved the hull, which will be moved into the painting hall before delivery later in the first quarter.

Last year, Harland & Wolff signed two contracts with Cory Group to build 23 waste barges in Belfast. The deals are worth GBP18.0 million in total. Cory handles recyclable and non-recyclable waste.

Harland & Wolff said the second barge will soon be completed, and two others are in advanced stages of fabrication, with fabrication taking place simultaneously across all the barges.

The company noted that the contract has "supported the facility in advancing vital shipyard skills which will be required for the Fleet Solid Support warship programme".

Chief Executive Officer John Wood said: "It has been fascinating to watch the adoption of new technology with our twin-headed robotic welding line delivering production improvements by a magnitude of four to six times against conventional production and welding methods.

"I am very encouraged with the progress being made, and it is the perfect stepping stone towards full-scale shipbuilding."

Harland & Wolff shares were up 2.6% trading at 14.75 pence per share on Thursday afternoon in London.

By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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