16 Apr 2009 10:13
For immediate release 16 April 2009
Northbridge Industrial Services Plc.
("Northbridge" or "The Company")
MAJOR CONTRACT WIN
Northbridge, the industrial services and rental company, is pleased to announce that RDS (Technical) Ltd a wholly owned subsidiary of Northbridge Middle East FZE has been awarded a rental contract to supply generators, transformers and associated equipment together with a maintenance agreement to the Jabali Zinc Project in Yemen. The project was won in a competitive tender.
The contract, due to start in September 2009 with the full package expected on site in the first half of 2010, has a minimum service period for the hire of the equipment of 12 months and is renewable thereafter. The value of the minimum service period is US $2.9 million.
The customer and main contractor is the Jabal Salab Company (Yemen) Ltd. The majority shareholder of Jabal Salab is Zincox Resources Plc, an AIM-quoted company registered on the London Stock Exchange which specialises in low cost production of zinc from mined zinc oxide.
Commenting on the contract win, Chief Executive Eric Hook said:
"In June 2008 we acquired new premises in the Middle East in order to facilitate more rapid growth in this important region. Winning this contract represents an important successful step in Northbridge's objective of becoming a key supplier of specialised rental services in the Middle East."
For further information
| Northbridge Industrial Services plc | |
| Eric Hook, Chief Executive Officer | 0770 283 1110 |
| Ash Mehta, Finance Director | 07930 547 441 |
| Charles Stanley Securities (Nominated Adviser) | 020 7149 6000 |
| Mark Taylor / Freddy Crossley | |
| Buchanan Communications | 020 7466 5000 |
| Charles Ryland / Isabel Podda |
About Northbridge:
Northbridge Industrial Services was incorporated for the purpose of acquiring companies that hire and sell specialist industrial equipment supplying a non-cyclical customer base including utility companies, the public sector and the oil and gas industries. In particular it will seek to acquire specialist businesses that have the potential for expansion into complete outsourcing providers Region.
NBI.L (NBI)