CIU.L Regulatory News (CIU)

19 Oct 2007 07:00

Cape PLC19 October 2007 19 October 2007 Cape PLC ("Cape" or the "Company") Contract Awards - Gulf/ Middle East Region Cape PLC (AIM:CIU), the international provider of support services for theenergy sector, which operates in the Gulf/ Middle East Region as Cape East andRB Hilton, is pleased to announce a number of significant contract awards with acombined value in excess of £32 million. Saudi Arabia Cape subsidiary RB Hilton Saudi Arabia Limited ("RBSA") has been awarded twocontracts to provide access services as part of the US$3 billion Saudi AramcoKhurais Mega Project to create a central oil and gas processing facility on this2,890 km2 field. RBSA has also been awarded a contract to provide insulation services on the newAramco refinery complex at Rabigh. These services are in addition to therefractory and scaffolding services awarded in November 2006 as part of thePetro Rabigh project. Oman Cape's subsidiary in Oman, Cape East & Partners LLC ("CEP"), has been awarded amulti-discipline contract consisting of access, insulation, and fireproofing onthe US$1.6 billion aromatics plant in Sohar. The project is being undertaken byJacobs Engineering on behalf of the Oman Government. CEP has also been awarded a contract for insulation services on the new 32 kmenhanced oil recovery pipeline to the Mukhaizna oil field in southern Oman aspart of a US$500 million project being undertaken by Occidental Petroleum. U.A.E., Qatar and Kuwait In the U.A.E., Cape's subsidiary, Cape East LLC, has been awarded a servicescontract to provide access, insulation and refractory services for the majorshutdown works at the Takreer Ruwais Refinery, the largest refinery in thecountry. In Qatar, Cape's subsidiary, Cape East WLL, has been awarded an insulation andrefractory contract by Qatargas on their US$750 million Common Sulphur Project.The plant, which will have a capacity of up to 12,000 tonnes per day is to bebuilt at Ras Laffan Industrial City and is expected to be completed in late2008. It will process sulphur removed from natural gas before its shipment tomarket. In Kuwait, Cape's subsidiary, Cape East General Contracting Company, has beenawarded an access, insulation and refractory services contract on the EthylBenzene plant located in the new Shoiba Industrial Area. The contract forms partof a US$600 million project by Kuwait Olefins and Fluor Engineering. Martin May, Chief Executive of Cape commented: "These contract awards underpin the Gulf/ Middle East Region as an important growth area of Cape's international business. The existing contracts and forwardorder book in this region are strong and by building upon our excellent relationships with clients in this region we look forward to continuing this trend." ENDS For further information, please contact: Cape PLCMartin May, Chief Executive +44 (0)1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert +44 (0)20 7861 3232 / +44 (0)7811 358 764 Collins Stewart Europe LimitedChris Wells/ Mark Connelly/Stewart Wallace +44 (0)20 7523 8350 Notes to editors - Cape PLC is the parent company of a number of service providing organizations operating primarily in the oil and gas, petrochemical and power generation industries - In the year to 31 December 2006, Cape reported turnover of £295.5 million - Cape currently employs c. 10,000 people in 23 countries worldwide - Cape specialises in the provision of scaffolding, insulation, fire protection, specialist cleaning and other essential services to major industrial clients in the energy sector - Cape's ability to provide specialist cleaning services was enhanced by the acquisition of DBI Group Limited in October 2006 - On 23 April 2007, Cape's shareholders approved the placing of 26,923,077 ordinary shares at £2.60 per share to raise £70 million (before expenses) - On 6 June 2007, Cape acquired Total Rope Access International Limited - On 22 June 2007, Cape acquired Endecon Limited - On 31 August 2007 Cape acquired the Total Corrosion Control group of companies based in Australia - On 12 September 2007, Cape announced a recommended offer for Concept Hire Limited, a company listed on the Australian Stock Exchange which was declared unconditional on 16 October 2007 - On 16 October 2007, Cape announced a revised recommended offer for PCH Group Limited This information is provided by RNS The company news service from the London Stock Exchange