Award of UAE Armed Forces Contract

RNS Number : 5940B

AssetCo PLC

21 February 2011

 



21/02/2011

AssetCo Secures Outsourced Fire-fighting Services Contract with UAE Armed Forces

AssetCo Fire and Rescue, is pleased to announce that following the establishment of its joint venture with  Emirates Advanced Investments  the joint venture has been awarded a £120m contract to provide a fully outsourced firefighting service by the GHQ UAE Armed Forces. The contract, which is for an initial 5 years (with a 5 year extension), involves a total turnkey solution for the provision of personnel, training, operational equipment and facilities management, and follows the award to AssetCo in March 2010 of the first contract of its kind in the UAE. The revenue impact for the AssetCo group is expected to be at least £40m over the initial 5 years.

John Shannon, Chief Executive Officer, commented:

"To have achieved success with our partners at Emirates Advanced Investments so early into our JV relationship, is a strong endorsement of the operating model we have established and the calibre of the team we have recruited during the first year of our pilot contract. We have the lead role to continue to develop and deliver an outsourced fire and rescue service in the UAE working with established Government agencies and a highly motivated local workforce."

Enquiries: 

AssetCo plc	[phone]
John Shannon, Chief Executive Officer
Gareth White, Managing Director AssetCo UAE	[phone]
Arden Partners plc	[phone]
Richard Day
Adrian Trimmings
Cadogan PR	[phone]
Alex Walters

 

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