Fleet Solid Support Contract - Preferred Bidder

RNS Number : 6285G

Harland & Wolff Group Holdings PLC

16 November 2022

 

16 November 2022

Harland & Wolff Group Holdings plc

("Harland & Wolff" or the "Company")

Fleet Solid Support Contract - Preferred Bidder

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to note the recent announcement by the Secretary of State the Rt Hon Ben Wallace MP at its Appledore shipyard that Team Resolute (a UK based collaboration between Harland & Wolff, BMT and Navantia) has been awarded preferred bidder status on the £1.6bn Fleet Solid Support ("FSS") contract.

This announcement is a major milestone for Harland & Wolff and demonstrates the substantial progress made in establishing the business as a significant player within UK shipbuilding and wider fabrication projects.

The Company expects to complete negotiations on the FSS contract by Q1 2023, which will provide more precise details on the works to be carried out, key timelines and other factors relevant to the Company's involvement as part of Team Resolute. Further details will be made available as soon as possible.

This announcement contains inside information.

For further information, please visit  www.harland-wolff.com  or contact:

Harland & Wolff Group Holdings plc John Wood, Chief Executive Officer Seena Shah, Head of Marketing & Communications	[phone] [e-mail]   [e-mail]
Cenkos Securities plc (Nominated Adviser & Broker) Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance) Michael Johnson (Sales)	[phone]

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, energy and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion.

Its Belfast yard is one of Europe's largest heavy engineering facilities, with deep water access, two of Europe's largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where there will be significant demand.

In February 2021, the company acquired the assets of two Scottish-based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewables, energy and defence sectors.

In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.

 

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