James Fisher secures roughly ?30m of new contracts
By Iain Gilbert
Date: Tuesday 16 Jul 2019
(Sharecast News) - Marine engineering services provider James Fisher & Sons said on Tuesday that it had inked approximately £30m-worth of contracts in the offshore renewable energy sector.
While construction work continues on the East Anglia One wind farm, James Fisher revealed it had been awarded clearance for its phase 2 unexploded ordinance work and boulder clearance, as well as met mast decommissioning.
The FTSE 250 resident will also continue to provide ongoing construction support services and marine co-ordination and communications services for the project.
Over at the Moray East project, James Fisher was awarded a contract for marine coordination and communication, with its work on-site preparations at Innogy's Triton Knoll Offshore Wind Farm continuing with another new contract for unexploded ordinance work and boulder clearance.
Elsewhere, James Fisher was awarded an initial contract in Taiwan for unexploded ordinance, survey work and structural monitoring.
Lastly, Fisher's tankships division purchased the Raleigh Fisher, a 35,000-tonne tanker, for £9m, on the award of a five-year contract from the Ministry of Defence to support the Royal Navy's fuelling requirements.
Chief executive Nick Henry said: "We are committed to being part of driving operational efficiencies in the renewables industry and continue to see significant opportunities for James Fisher.
"The investment in the Raleigh Fisher further develops the services provided to the Ministry of Defence and the recent contract win represents a significant award for our tankships division."
As of 0820 BST, Fisher shares had dipped 0.23% to 1,907.55p.
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