Silverdell PLC Contract Awards (8410G)
04 Juli 2012 - 8:00AM
UK Regulatory
TIDMSID
RNS Number : 8410G
Silverdell PLC
04 July 2012
Silverdell PLC
("Silverdell" or "the Company")
Contract Awards
Silverdell PLC (AIM: SID), the Specialist Environmental Support
Services group, is pleased to announce that it has secured two
decontamination and dismantling contracts worth a combined total of
approximately GBP13m. The work is being carried out on sites in
Canada for two separate multi-national companies. These contracts
were secured since 30 May 2012, when Silverdell announced the
acquisition of EDS, a specialist provider of decommissioning and
dismantling services.
The first contract, worth approximately GBP10.7m, involves the
complete disinvestment of a plant in Milhaven, Ontario for an
International Specialist Material Company in the Chemicals sector.
This will include decontamination, demolition and selective
dismantling as well as asset recovery and the marketing of
equipment for re-use. The project also includes the GBP1.25m of
asbestos removal work previously announced by Silverdell on 11 May
2012. Work has just commenced and is expected to run for around 60
weeks.
The second contract, worth approximately GBP2.2m, is for an
international pulp and paper company and involves the dismantling
of a pulp and paper mill plant in Chandler, Quebec, as well as the
recovery of pulp and paper mill equipment for reuse in Vietnam.
Work has just begun and is expected to complete in 16 weeks.
Sean Nutley, Chief Executive Officer for Silverdell Plc,
commented:
"When we announced our intention to acquire EDS, we said that we
believed it would be a transformational acquisition that would be
immediately earnings enhancing, and would grant us immediate scale
and capability internationally, with Canada as a target market. We
also stated our belief that the acquisition would enable us to win
large contracts with multi-national corporations.
"These contract wins validate the strategic rationale behind our
acquisition of EDS and further underpin our confidence for 2013.
The enlarged Silverdell Group provides a unique end-to-end suite of
remediation, decontamination and decommissioning services. This
makes us a very attractive partner to blue chip customers in high
hazard highly regulated sectors. We look forward to announcing
further contracts wins in due course."
4 July 2012
ENQUIRIES:
Silverdell Tel: + 44 20 7389 6800
Sean Nutley, Group Chief
Executive
Ian Johnson, Group Financial
Director
finnCap Tel: + 44 20 720 0500
Marc Young (Corporate Finance)
Ben Thompson (Corporate Finance)
Victoria Bates (Corporate
Broking)
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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