RE: New Client at Appledore6 Oct 2021 08:47
The Company has, over the past 18 months, proceeded through various phases which have included, the acquisition of assets, significant upgrades to all its facilities, the introduction of state-of-the-art technology and has simultaneously established a substantial sales pipeline.
The Company is now at its final stage of full reactivation of all its yards, which involves building a multi-year backlog for its facilities across its five key markets: defence, cruise and ferry, commercial, renewables and energy. The Company believes that this change of name will better reflect its ambition in expanding its core business and the significant development of its shipbuilding and fabrication activities.
We are delighted to make this announcement today, signalling the end of upgrade and reactivation phases. With the new national shipbuilding strategy due to be released in the autumn and the government's 10-point plan for a Green Industrial Revolution, we have confidence that the shipbuilding and fabrication business will deliver substantial value to all our stakeholders as we enter this exciting new stage of building our multiyear backlog of projects.
Since acquiring Harland & Wolff in December 2019, we have seen the organisation grow significantly; in August 2020 we reopened what is now known as Harland & Wolff (Appledore) and in February 2021, we acquired two ex-BiFab sites based in Scotland - now renamed Harland & Wolff (Arnish) and Harland & Wolff (Methil) respectively giving us one of the largest fabrication footprints dedicated to our core markets, in addition to two of the largest drydocks in Europe which at 80% capacity could give sales of in excess of £500m per annum when operational efficiencies have been achieved.
https://www.lse.co.uk/rns/INFA/mou-with-navantia-and-windar-renovables-ex4r6pwrg43ka0y.html
LTHs will be rewarded- and I’m very happy to have built a large position with a sub 20p average - 7 mil under the value of contracts won in the last 5 months excluding everything else. Undervalued at a bottom while waiting for the first UK defence contract