SID Silverdell

TIDMSID

RNS Number : 7497W

Silverdell PLC

03 February 2012

Silverdell PLC

("Silverdell" or "the Company")

Contract Awards

Silverdell PLC (AIM: SID), the Environmental Support Services group, is pleased to announce that it has been awarded framework contracts for consultancy in the Utilities and Social Housing markets, with a combined approximate value of GBP1.4m, as well as an asbestos remediation contract worth approximately GBP2.25m.

The Company has secured a contract worth approximately GBP1.1m with a major energy supplier in the North of England. The Company will carry out hazardous waste management consultancy and will conduct surveys across all of the customer's built assets within the region, working as a preferred supplier to the customer over a period of four years.

Silverdell has also been made a preferred supplier to a large Housing Association in Yorkshire, to provide hazardous waste management consultancy services. The contract is worth approximately GBP330k over two years.

The Company also continues to secure work in its core market of asbestos remediation projects across the country; a notable example is the recent award of a five year contract, worth around GBP450k per year, with a South-West based housing sector client with whom Silverdell has had a longstanding working relationship.

Sean Nutley,Chief Executive Officer for Silverdell Plc, commented:

"The award of these contracts demonstrates that we are successfully implementing our strategy to expand our services into higher margin consulting work and into specialist environmental support services in high growth sectors such as Utilities. We continue to seek out long term framework contracts such as these, which significantly enhance the quality and visibility of our earnings. At the same time we continue to be a market leader in our core asbestos remediation business and to win contracts in that area.

"Hazardous waste consultancy and remediation is a largely non-discretionary spend for our customers. They are obliged by law to have in place an asbestos management plan. Our growth strategy stands us in good stead to continue to win long term contracts with major public and private sector customers; we look forward to the future with confidence."

3 February 2012

ENQUIRIES:

 
 Silverdell                      Tel: + 44 20 7389 6800 
 Sean Nutley, Group Chief 
  Executive 
 Ian Johnson, Group Financial 
  Director 
 
 finnCap                         Tel: + 44 20 7523 8000 
 Marc Young 
 
 College Hill 
 Helen Tarbet                    Tel: + 44 20 7457 2020 
 Mark Garraway                          44 78 2560 9737 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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