Arnish Trading Update

RNS Number : 1885I

Harland & Wolff Group Holdings PLC

13 April 2022

 

13 April 2022

Harland & Wolff Group Holdings plc

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

Arnish Trading Update

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to provide a trading update in relation to its fully owned subsidiary, Harland & Wolff (Arnish) Limited.

Following the Company's announcement of Arnish's first contract win in November last year for the fabrication of four suction piles for an offshore energy project, the first two suction piles have now been completed and Arnish is on track to complete the contract by the end of April. This contract has been completed on time, on specification and on budget.

Further, the Company is pleased to report that Arnish has won a fabrication contract to roll twelve Super Duplex Shells for the Hinkley C nuclear power project. The first of the twelve structures will be rolled from tomorrow with the project scheduled to be completed by the end of June.

Finally, Arnish has been busy with the fabrication of boat landings for the Saipem contract. The first of eight boat landings will be despatched to Methil next week for painting works with the second boat landing going out two weeks thereafter. The cumulative contract value for these projects is estimated to be in the region of £2 million - £3 million, as predicted by management.

Harland & Wolff, group CEO John Wood, commented:

"I am delighted to see that Arnish is very busy with a number of projects being run in parallel. The team have done an excellent job to get the first contract delivered on time and on budget. This performance has provided immense credibility to the yard in its negotiations with a number of new clients."

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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