Harland & Wolff wins six new smaller contracts
By Iain Gilbert
Date: Monday 20 Feb 2023
(Sharecast News) - Shipbuilding company Harland & Wolff has secured six new smaller contracts within the defence, cruise and ferry, and commercial fabrication markets.
Harland & Wolff said on Monday that it will undertake routine repairs under the contact, as well as new fabrication works, which will be carried out across its yards in Belfast, Appledore and Arnish.
The AIM-listed firm stated the contracts were expected to be completed during the next 12-18 months and had an aggregate value in excess of £10.0m. Works on four of the contracts will commence this month in Belfast, and will involve fabricating a drydock gate for a client that operates a defence facility, repairs on a jack up barge used for installation of offshore structures, as well as regular repair works on five vessels comprising a product tanker and four ferries.
Chief executive John Wood said: "Since the commencement of 2023, we are seeing an uptick in the level of enquiries flowing through all the yards for multiple projects.
"Whilst securing the longer-term FSS programme as part of team resolute was a major milestone for the company, the company must continue to rely on securing and executing smaller projects across its yards, adding to the experience and skills of the workforce."
As of 1250 GMT, Harland & Wolff shares were up 3.84% at 15.19p.
Reporting by Iain Gilbert at Sharecast.com
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