7th May 2008 07:01
Cape PLC07 May 2008 Cape plc ("Cape", the "Group" or the "Company") Significant safety milestone achieved and new operational appointments Cape, the international provider of essential support services to the energy andnatural resources sectors, is delighted to report it has achieved 6 millionman-hours without an LTI (Lost Time Incident) at its LNG project at SakhalinIsland. Safety is one of the most important offerings potential industrialclients demand in the highly competitive energy services market. Cape placesa significant emphasis on its health and safety track record and thisachievement is a tribute to the hard work of management and employees. Additionally Cape is pleased to confirm that the following appointments; JimMcKenna as Global Logistics Manager for the UK region based in Warrington andSteve Turner as Business Support Services Director for the UK region based inWakefield. Steve Turner previously worked for Cape and left in 2005 to joinInspace Partnerships Ltd as their Commercial Director. Cape is also pleased toannounce the internal promotion of Lee Foundation to the post of UK RegionalHealth, Safety, Environmental and Quality Director. - ends - Contacts: Cape PLCMartin May, Chief Executive Officer +44 (0) 1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert / Victoria Geoghegan +44 (0) 020 7861 3232 Notes to Editors Cape, which is listed on AIM (CIU), specialises in the provision of accessscaffolding, insulation, fire protection, specialist cleaning and otheressential services throughout asset life-cycles for major industrial clients inthe international energy and natural resources sectors. The Company employs c.12,000 people in 23 countries worldwide with its four mainmarkets being the UK, the Middle East, the CIS and Caspian and the Far East/Australasia. In the year ended 31 December 2006, strong organic growth enabledCape to report turnover of £295.5 million. Cape is also set to benefit fromseveral acquisitions completed in 2007, especially in the important Australasianregion where three companies with an annualised turnover of c. £125 million havebeen acquired. Cape's future growth is underpinned by several factors: • Global demand for energy within non-OECD countries which is expected to increase by 221% over the next 30 years. • Within the OECD, the desire on the part of energy producers/ users to extend the life of assets ahead of the next investment cycle. • An increasing appetite on the part of Cape's major customers to outsource non-core services and to look for bundled service proposals. • A preference on the part of blue chip clients to work with safe suppliers who have access to, and the ability to train, local workforces to exacting standards. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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