Intention to mothball steelmaking at SSI

RNS Number : 5522Z

Hargreaves Services PLC

18 September 2015

 



For immediate release

18 September 2015

HARGREAVES SERVICES PLC 

(the "Group" or "Hargreaves")

Intention to mothball steelmaking at SSI

We note today's press coverage regarding the intention to mothball steelmaking at Redcar steelworks (owned by Sahaviriya Steel Industries "SSI"). We have worked hard to support the operations at SSI and will continue to do so.

At this time we await clarification of the mothballing plans to evaluate the likely impact on the material handling services and coal procurement services that we provide to the plant and will update the market in due course. As reported in the Preliminary Results statement on 11 August 2015, these contracts contributed approximately £4m of operating profit in the last financial year.

For further details:

Hargreaves Services	0191 373 4485
Gordon Banham, Group Chief Executive
Iain Cockburn, Group Finance Director
Buchanan	020 7466 5000
Mark Court / Sophie Cowles
N+1 Singer (Nomad & Joint Broker)	020 7496 3000
Sandy Fraser / Nick Owen
Jefferies International Limited (Joint Broker)	020 7029 8000
Harry Nicholas

 

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