Last checked at 19 Oct 2021 07:00
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19 October 2021
Harland & Wolff Group Holdings plc
("Harland" or the "Company")
Harland & Wolff (Arnish) News Update
Harland & Wolff Group Holdings plc is pleased to share a news update in relation to its Arnish facility.
Harland & Wolff (Arnish) has been awarded a contract for the fabrication of four suction piles for a sub-sea template of an energy project in the Black Sea. Whilst the contract is small, relative to the recent Saipem award and forms part of the Company's expected pipeline for this year, the Board believes that this key win validates the Company's strategy of getting its Arnish facility into a state of operational preparedness for the wider renewables sector in the UK.
With Arnish now moving to full operations, it will be fabricating four suction piles - two at seven and a half metres diameter and twenty metres length, and two at six metres diameter and twelve metres length. The contract commences immediately and will last for approximately four and a half months. This contract marks Arnish's first external contract in addition to the work that it is already being undertaken for our Methil facility. The execution of this new contract now concludes the reactivation process of all yards, which are winning work in their own right.
Further, the Company has bid for several additional contracts that management believes will flow through Arnish in the coming weeks and months. Major infrastructure developments across numerous sectors are beginning to move ahead to either construction or commercialisation stages and Arnish, with its specialist large diameter rolling equipment, is well placed to be a beneficiary as its capability is expected to be in high demand.
John Wood, Group CEO of commented: "I am delighted to report that Arnish is now fully operational. We have taken the time to bring the site up to operational readiness. The works conducted by the local team have garnered positive reviews by clients who have inspected and audited the yard. Arnish offers something quite different compared to our other yards and, looking ahead, the specialist large rolling equipment is set to be booked for extended periods by clients given the vast array of projects that require large diameter rolling of steel."
For further information, please visit www.harland-wolff.com or contact:
Harland & Wolff Group Holdings plc John Wood, Chief Executive Seena Shah, Head of Marketing & Communications
| +44 (0)20 3900 2122 investors@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.