(Alliance News) - Speedy Hire PLC on Thursday announced the signing of a new long-term contract.
The Merseyside, England-based tool and equipment hire company operates across construction, infrastructure, and industrial markets.
The long-term contract with Amey Group Services Ltd will generate up to GBP25 million revenue per annum, Speedy Hire said, and is due to mobilise in the second of the current financial year, subject to a transition period.
Amey is provider of engineering, operations, and decarbonisation solutions for UK infrastructure. The company opted for Speedy Hire in part due to the two firms' shared emphasis on sustainability, Speedy Hire said.
"As part of the agreement, Speedy Hire will provide non-operated plant hire to Amey's operations on a range of sector contracts including rail, highways and public estates, a significant proportion of which consists of innovative eco-products," Speedy Hire said.
Speedy Hire shares were up 9.3% to 33.60 pence each in London on Thursday morning.
By Elijah Dale, Alliance News reporter
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