21st Sep 2007 07:01
Spice PLC21 September 2007 21 September 2007 Spice plc Contract win and Acquisition Contract win in the USA - AT&T Inc ("AT&T") The Board of Spice plc ("Spice"), the provider of outsourced infrastructuresupport services to the Commercial, Public and Utility Sectors, is pleased toannounce that Freedom, its Utility Services business, has been selected by AT&Tto provide records and data management services in the United States of America. The contract is for an initial period of two years. The estimated turnover valueper annum is expected to be £5 million. Freedom will be working alongside clientstaff from AT&T in AT&T's offices across four US states (Mississippi, Florida,Tennessee and North Carolina), as part of an integrated project delivery team. Simon Rigby, Chief Executive Officer, commented: "I am delighted that the Spice outsourcing model is to be applied in the USA.This is an extremely significant contract for the development of Spice and I ampleased it is in an area we know so well and that our staff will be working inthe offices of one of the worlds largest utility companies. I have long been ofthe opinion that our contacts would naturally take us abroad. It is anindication of the strength in depth in our Freedom business that we havenegotiated and mobilised for this contract during a period of record growth herein the UK." Acquisition of KMN Group Limited ("KMN") Spice is also pleased to announce the acquisition of KMN for an initial cashconsideration of £0.75 million. A further sum of up to £0.1 million is payablebased on the excess of net assets over £0.2 million. KMN is based in Leeds andprovides specialist professional civil and structural engineering design andmanagement services. Turnover for the year ended 30 November 2006 was £0.9million. Net assets at 30 November 2006 were £0.2 million. KMN becomes part ofFreedom's Consultancy Service Island within its Utility Services Division. Simon Rigby, Chief Executive Officer, commented: "KMN will bring additional management skills and new clients to our UtilityServices Division and will further strengthen our service structure andreinforce our position as a market leader within the UK. With the increaseddemand for these services throughout the UK, we are well placed to win furtherwork." Ends Enquiries: Spice plc Tel: 0113 384 3838Simon Rigby, Chief Executive OfficerOliver Lightowlers, Group Finance DirectorCarl Chambers, Corporate Development Director Financial Dynamics Tel: 020 7831 3113Billy CleggCaroline Stewart KBC Peel Hunt Tel: 020 7418 8900Julian Blunt NOTES TO EDITORS Spice plc Spice is a support services business operating in the Commercial Services,Public Services and Utility Services sectors. The Group's operations werefounded in 1996 and have their origins in the electricity industry, though therange of activities has since been expanded into the water sector, nichetelecommunications services, the public sector, energy management and commercialfacilities management. Spice's businesses have a common theme of delivering andco-ordinating infrastructure services to customers, and the technologicalelement within the product mix has been built up significantly over the courseof the last three years. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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