This announcement contains inside
information.
5 March 2024
Harland & Wolff Group
Holdings plc
("Harland
& Wolff" or the "Company")
Award of Preferred Bidder
Status for the Falkland Islands Port Replacement
Project
Harland & Wolff Group Holdings
plc (AIM: HARL), the UK quoted company focused on
strategic infrastructure projects and physical asset lifecycle
management, is pleased to announce that it has been awarded
preferred bidder status for the Falkland Islands Port Replacement
Project ("FIPASS") by the
Falkland Islands Government.
Subject to agreeing final contract
pricing and concluding commercial negotiations, the Directors
believe that this project could generate total revenues between
£100 million - £120 million over a two-year period, with works on
the project expected to commence this year. The FIPASS
project involves the build, transport and installation of four
floating pontoons of approximately 90 metres each in the Falkland
Islands. Conditional on the award of the final contract, the
Company intends to spread the work across its multiple facilities
in order to provide optionality and de-risk the fabrication of
these pontoons.
The Company will make a further
announcement upon formal execution of the contract.
John Wood, Chief Executive Officer of
Harland & Wolff Group of Companies, comments: "Following a
competitive bid process, I am delighted that the Falkland Islands
Government has selected Harland & Wolff as preferred bidder for
this project. The Company enjoys an excellent relationship and a
rich heritage with the Falkland Islands given that
Harland and Wolff built the six linked barges
which make up the existing port facility 45 years ago. I look
forward to working closely with the Falkland Islands Government and
bringing this contract to fruition."
For further information, please
visit www.harland-wolff.com or
contact:
|
Harland & Wolff Group Holdings plc
John Wood, Chief Executive
Officer
Arun Raman, Chief Finance
Officer
|
+44 (0)20 3900 2122
investor@harland-wolff.com
media@harland-wolff.com
|
|
Cavendish Securities plc (Nominated Adviser &
Broker)
Stephen Keys / Callum
Davidson / Dan Hodkinson (Corporate
Finance)
Michael
Johnson (Sales)
|
+44 (0)20 7397 8900
|
|
Liberum Capital Limited (Joint Broker)
Nicholas How / Edward
Mansfield
|
+44 (0)20 3100 2000
|
|
h2Radnor (Investor Relations)
Neville Harris
|
+44 (0) 20 3897 1838
|
|
|
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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.