St Modwen strikes deal with Siemens
Property generation specialist St Modwen (down 1.8p at 183.3p) has struck a £20m deal to build a gas turbine servicing facility at Teal Park, Lincoln, for Siemens.
It means that Siemens can cut its Lincoln-based gas turbine services business from the four sites it currently operates down to one.
The new site will occupy 11 acres of Teal Park and will be leased to Siemens for 12 years.
It will include a 50,000sq ft office and 84,000sq ft service workshop. Building is expected to start this autumn and be completed in December 2012.
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