Mears Regulatory News (MER)

19 Nov 2007 10:43

Mears Group PLC19 November 2007 19 November 2007 Mears wins major strategic partnership in Sedgefield Mears Group PLC is delighted to announce the award of a major new £89mpartnership contract in Sedgefield in the North East of England. The contractterm is 5 years with a possible 2 year extension and is subject to adequatefunding arrangements by the local authority. This strategic partnership coversall aspects of housing repairs, maintenance and decent homes across the 8,500properties in Sedgefield Borough Council. Existing Sedgefield employees will betransferred to Mears under the transfer of undertaking arrangements (TUPE). Chairman Bob Holt commented: 'This is the second major partnering contract won by Mears in the last 5 weeksand we are confident that further contract awards will follow. In very shortorder we are back on track to exceed our target for new contract wins in 2007. In the first half of 2007 our business development team returned to a moreselective bidding process, a principle which proved highly successful in the 10years up to 2006. This personalised, selective approach has positioned the Groupback at the cutting edge of the Social Housing sector and I applaud the Mearsdevelopment team under Darren Pace in delivering another substantial newpartnership.' Enquiries Mears Group PLC Bob Holt 07778 798 816 Investec Keith Anderson 020 7597 5970 This information is provided by RNS The company news service from the London Stock Exchange