19th Feb 2009 07:00
Embargoed: 0700hrs 19 February 2009
Cape PLC
("Cape")
CAPE WINS £140 MILLION PLUS CONTRACT FOR BRITISH ENERGY`S NUCLEAR FLEET
Cape PLC (AIM: CIU), the international provider of essential support services to the energy and natural resources sectors, is pleased to announce that it has been awarded a contract to supply access, insulation and associated services in excess of £140 million over a period of seven years, in support of British Energy's eight nuclear power stations (the "Contract").
British Energy, part of EDF Energy, is the UK's largest producer of electricity, producing around one sixth of the nation's supply from eight nuclear and one coal fired power station (which is also serviced by Cape). British Energy operates two types of nuclear reactor: the advanced gas-cooled reactors (AGR`s) Dungeness B, Hartlepool, Heysham 1, Heysham 2, Hinkley B, Hunterston B and Torness and a pressurised water reactor (PWR) Sizewell B. The nuclear stations have a combined capacity of almost 9,000 megawatts.
The Contract, which extends Cape's long standing relationship with British Energy from five power stations to the entire fleet, encompasses the supply of specialist access and thermal insulation services for a duration of seven years in support of the fleet's maintenance, projects and statutory outage programmes, where the requirement for safety, reliability and innovation is paramount.
Martin May, Chief Executive of Cape PLC, commented:
"The award of this contract has major, strategic importance for Cape; being the largest UK power generation contract of this nature, providing valuable sector experience for our ambitions in the nuclear decommissioning sector and strategic positioning for entry into the forthcoming nuclear new-build programme. We are pleased to contribute towards the maintenance of the UK`s largest fleet of nuclear power stations, which extends our services to support in excess of 63% of the nation's power generation capacity (>500Mw)."
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For further information please contact:-
Cape PLC Martin K May, Chief Executive Officer Richard Bingham, Chief Financial Officer Tel. +44 (0)20 3178 5498
Numis Securities Limited Nominated Adviser: John Harrison, Managing Director Corporate Finance Corporate Broker: James Serjeant, Director Corporate Broking Tel. +44 (0)20 7260 1000
Merrill Lynch International Andrew Tusa, Director Corporate Broking Europe Tel. +44 (0)20 7628 1000
M: CommunicationsPatrick d'Ancona or Ben Simons Tel. +44 (0)20 7153 1540
About Cape:
Cape PLC (www.capeplc.com), which is quoted on AIM (CIU), specialises in the provision of access scaffolding, insulation, fire protection, specialist cleaning and other essential services throughout asset life-cycles for major industrial clients in the international energy and natural resources sectors.
Cape employs c.14,000 people in 30 countries worldwide with its four main markets being the UK, Gulf/Middle East, CIS States/Caspian (including Sakhalin Island) and the Far East/ Pacific Rim.
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