This announcement contains inside
information
6 August 2024
Harland & Wolff Group
Holdings plc
("Harland & Wolff"
or the "Company")
Falkland Islands Port
Replacement Project Update
Harland & Wolff Group Holdings
plc (AIM: HARL), the UK quoted company focused on strategic
infrastructure projects and physical asset lifecycle
management, provides the following update
in relation to the Falkland Islands Port
Replacement Project.
Following a detailed review process,
the Falkland Islands Government (FIG) have decided to cease further
contractual negotiations with Harland and Wolff regarding the port
replacement project.
Harland and Wolff were initially
identified as the preferred bidder for the marine-side tender in
early 2024. However, despite productive discussions, FIG and
Harland and Wolff were unable to reach a mutually acceptable
commercial position. FIG acknowledges the effort and commitment
demonstrated by Harland and Wolff throughout this
process.
For
further information, please
visit www.harland-wolff.com or
contact:
|
Harland & Wolff Group Holdings plc
Malcolm Groat, Chairman
Arun Raman, Chief Finance
Officer
|
+44 (0)20 3900 2122
investor@harland-wolff.com
media@harland-wolff.com
|
|
h2Radnor (Investor Relations)
Neville Harris / Josh
Cryer
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+44 (0) 20 3897 1838
|
|
Cavendish Capital Markets Limited (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
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+44 (0)20 3100 2000
|
|
|
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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.