29th Jul 2005 07:01
Cape PLC29 July 2005 Cape PLC ("Cape") 29 July 2005 Cape wins £16m maintenance services contract in UK Cape PLC, (AIM: CIU), the international provider of industrial services to theenergy sector, announces that its subsidiary and sole operating business, CapeIndustrial Services Limited, has secured a new £16m maintenance servicescontract. The contract, which is expected to be earnings enhancing from inception, isworth £8m annually to Cape, and is with Huntsman Petrochemicals Ltd, a globalmanufacturer and marketer of commodity and differentiated chemicals. Thecontract is for an initial two year period with a further two-year option andbuilds on the existing long-term relationship between the two companies. Cape will take up a management role within the Integrated Maintenance Servicesteam at Huntsman's North Eastern petrochemical sites. Cape will be responsiblefor the delivery of multi-disciplined services including, but not limited to,Access Provision, Inspection Services, Thermal Insulation, Asbestos Management,Industrial Coatings, Cleaning, Standby/ Firewatch Duties and Grounds Maintenanceat all facilities. The services will be provided by Cape Industrial ServicesLimited in conjunction with its alliance partner Aker Kvaerner. Paul Ainley, Managing Director of Cape Industrial Services said, "We have workedwith this major client for many years and we are delighted to have been awardedthis contract. We understand that our performance to date across the Huntsmanassets, particularly with regards to safety and innovative working methods, hasbeen a significant factor in the award of this new contract. We are delighted tobe continuing our relationship on such a prestigious project." Further information: Cape PLCMartin May, Chairman +44 (0) 1924 876 276Paul Ainley, Managing Director +44 (0) 1924 876 281 Bell Pottinger Corporate & FinancialNick Lambert +44 (0) 20 7861 3232 / +44 (0) 7811 358 764 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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