focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksINFA.L Share News (INFA)

  • There is currently no data for INFA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

InfraStrata Buys Burntisland Fabrication Assets For Up To GBP850,000

Fri, 12th Feb 2021 10:30

(Alliance News) - InfraStrata PLC on Friday said it has bought assets from Burntisland Fabrication Ltd, giving the company increased capacity across two sites in "prime locations" in Scotland.

The consideration paid comprises GBP650,000 in cash with further deferred consideration of up to GBP200,000 subject to the achievement of future revenue targets.

The London-listed infrastructure projects firm has bought assets and leases across two sites in Scotland, being Methil on the east coast of Scotland and Arnish on the west coast of Scotland. The Burntisland site will not form part of the transaction.

Over 25,000 square metres of undercover fabrication capacity have been acquired, with 580,000 square metres of total site area and 24,000 tonnes of quayside load-out capabilities and annual throughput tonnage potential estimated at over 100,000 tonnes.

The assets acquired and up to 29 existing employees will come under the newly formed Harland & Wolff (Methil) Ltd, a fully owned subsidiary of InfraStrata.

"The acquisition fulfils the company's strategic ambition to have fabrication sites across various geographical locations of the United Kingdom, leading to local and cross government support; aligned even closer to the UK Government's 'levelling-up' agenda and the 'Green Industrial Revolution'," InfraStrata said.

Shares in InfraStrata were up 3.6% at 40.50 pence in London on Friday.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
17 Sep 2021 13:32

TRADING UPDATES: JPMorgan Mid Cap outperforms; Live Co loss narrows

TRADING UPDATES: JPMorgan Mid Cap outperforms; Live Co loss narrows

Read more
15 Sep 2021 19:28

InfraStrata to partner with Navantia, Windar for UK wind projects

InfraStrata to partner with Navantia, Windar for UK wind projects

Read more
14 Sep 2021 20:44

IN BRIEF: Infrastrata proposes name change to Harland & Wolff Group

IN BRIEF: Infrastrata proposes name change to Harland & Wolff Group

Read more
11 Aug 2021 14:44

EXECUTIVE CHANGES: Smiths News hires CFO; Block Energy chair survives

EXECUTIVE CHANGES: Smiths News hires CFO; Block Energy chair survives

Read more
30 Jun 2021 19:14

TRADING UPDATES: Topps Tiles improves as curbs ease; Bermele makes buy

TRADING UPDATES: Topps Tiles improves as curbs ease; Bermele makes buy

Read more
30 Jun 2021 13:13

Infrastrata books £3.0m in revenues over latest quarter

(Sharecast News) - London-based firm Infrastrata said on Wednesday that the recent macro-economic recovery had directly translated into increasing contract values and higher client spend.

Read more
24 May 2021 19:23

TRADING UPDATES: HSBC issues bond notes; Zegona to return capital

TRADING UPDATES: HSBC issues bond notes; Zegona to return capital

Read more
11 May 2021 16:41

IN BRIEF: Infrastrata wins GBP1.6 million contract for ferry repairs

IN BRIEF: Infrastrata wins GBP1.6 million contract for ferry repairs

Read more
11 May 2021 09:45

InfraStrata wins repair contract with unnamed global ferry company

(Sharecast News) - Strategic infrastructure group InfraStrata has won a contract award from "a globally recognised ferry company" for the repairs of two of its ferries at Harland & Wolff in Belfast.

Read more
5 May 2021 19:20

TRADING UPDATES: SIG in good start to 2021; Accsys taps EUR37 million

TRADING UPDATES: SIG in good start to 2021; Accsys taps EUR37 million

Read more
4 May 2021 19:13

TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal

TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal

Read more
4 May 2021 14:10

Infrastrata tumbles as it announces plans to raise £9m in placing

(Sharecast News) - Infrastrata shares tumbled on Tuesday after the company said it plans to raise a minimum of £9m in a placing, partly to carry out material fabrication works after securing its first major contract.

Read more
19 Apr 2021 13:41

IN BRIEF: InfraStrata interim loss widens but revenue surges

IN BRIEF: InfraStrata interim loss widens but revenue surges

Read more
19 Apr 2021 08:08

Infrastrata interim losses widen despite huge jump in revenues

(Sharecast News) - Strategic infrastructure firm Infrastrata said on Monday that it had "not been immune" to lockdowns and operational disruptions stemming from the Covid-19 pandemic, with operating losses widening despite posting a marked increase in interim revenues.

Read more
16 Apr 2021 11:33

AIM WINNERS & LOSERS: InfraStrata jumps on joint contract win

AIM WINNERS & LOSERS: InfraStrata jumps on joint contract win

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.