Last checked at 11 Nov 2021 07:00
11 November 2021
Harland & Wolff Group Holdings plc
("Harland & Wolff" or the "Company")
First Fabrication Contract Win For Harland & Wolff's Appledore Shipyard
Harland & Wolff Group Holdings plc (AIM: HARL), the shipyard and energy infrastructure group with over 160 years of maritime and offshore engineering pedigree, is delighted to announce that its subsidiary, Harland & Wolff (Appledore) Limited ("Appledore") has been awarded a contract worth in excess of £2 million by Herbosch-Kiere Marine Contractors Ltd for the fabrication of a steel pontoon.
The steel pontoon will measure around 53 metres by 14 metres and weigh 450 tonnes and is set to replace the existing Royal National Lifeboat Institution ("RNLI") Tower Lifeboat Station based under Waterloo Bridge on the north bank of the Thames. The contract works will involve the manufacture of the foundation, stairways and handrails for the RNLI lifeboat station. Work is expected to span circa eight months and to be completed in June 2022.
The award of this contract is the first to be won by the Appledore yard since it was acquired by the Company and the Board considers it to be a major achievement, enabling the ramping up of Harland & Wolff's Appledore yard and its workforce. This contract will position the Company strongly to win further and larger fabrication and shipbuilding contracts.
John Wood, Group CEO of Harland & Wolff comments:
"This major fabrication contract is a significant and exciting milestone for Harland & Wolff Appledore. Since we acquired the yard, we have had great confidence in the potential of this business, and we are starting to see the strategy that we set out come together.
"We have already started to ramp up our workforce and prepare our yard for the project. This pontoon will give us the opportunity to demonstrate the excellent fabrication and shipbuilding skills within our Appledore workforce and will give our apprentices at Appledore a fantastic project to work on at the start of their careers with us."
This announcement contains inside information.
For further information, please visit www.harland-wolff.com or contact:
InfraStrata plc John Wood, Chief Executive Seena Shah, Head of Marketing & Communications
| +44 (0)20 3900 2122 investor@harland-wolff.com media@harland-wolff.com |
Cenkos Securities plc (Nominated Adviser & Broker) Stephen Keys / Callum Davidson (Corporate Finance) Michael Johnson (Sales)
| +44 (0)20 7397 8900 |
About Harland & Wolff
Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, energy and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion.
Its Belfast yard is one of Europe's largest heavy engineering facilities, with deep water access, two of Europe's largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where there will be significant demand.
In February 2021, the company acquired the assets of two Scottish-based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewables, energy and defence sectors.
In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.