Fulcrum Awarded Significant Gas Pipeline Project

RNS Number : 6271Q

Fulcrum Utility Services Ltd

01 December 2016

 

1 December 2016

FULCRUM UTILITY SERVICES LIMITED

Fulcrum Awarded Significant New Gas Pipeline Project

Fulcrum Utility Services Limited ("Fulcrum" or the "Company"), the UK's market leading independent multi-utility infrastructure and services provider, today announces it has secured a £4.0 million project to install a new gas pipeline to a large food manufacturing plant in the South West, converting the site from its existing fuel oil source to natural gas.

The contract for Fulcrum will see the installation of 12 kilometres of new gas infrastructure. Importantly, the conversion from fuel oil and connection to the gas network will generate large cost savings for the manufacturer and help to reduce their carbon footprint by ending the need for delivery by road tankers.

Scheduled to begin in spring 2017, the project will be delivered by a dedicated team of project managers and engineers, led by Fulcrum with its specialist technical and operational know-how. Upon completion, Fulcrum will adopt, own and operate the pipeline and gas meters, adding to the Company's expanding asset base.

Fulcrum has been able to provide a deferred payment plan (secured with a bank-backed guarantee) that allows the client to match the payments with the savings being made. The total value of the contract to Fulcrum is £4.0 million and the first instalment will be due on practical completion with the remaining balance to be paid in five equal annual instalments, finishing in July 2022. 

Martin Donnachie, Chief Executive Officer of Fulcrum, said: "We are delighted to confirm the award of this important fuel conversion project, which will provide significant cost savings and long-term environmental benefits to the client and their manufacturing plant. Securing this contract again reinforces Fulcrum's position as the UK's most trusted utility services provider."

Enquiries:

Fulcrum Utility Services Limited Craig Baugh, Head of Marketing and Communications Cenkos Securities plc (Nominated adviser and broker) Max Hartley (Nomad) / Oliver Baxendale (Sales) Camarco (Financial PR advisers) Ginny Pulbrook / Tom Huddart	[phone] [phone] [phone]

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes to Editors:

Fulcrum is a multi-utility infrastructure and services provider based in Sheffield, UK. The Company's primary business is the provision of utility infrastructure services to the residential, commercial and industrial markets throughout the main land UK. These range from the design, installation or alteration of utility services for single site properties to large complex multi-site projects. Through its subsidiary, Fulcrum Pipelines Limited, Fulcrum is also licensed as an Independent Gas Transporter and Meter Asset Manager, owning and operating gas pipelines that connect properties to the main UK gas networks and gas meters.

http://www.fulcrum.co.uk/

 

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