New Alliance

RNS Number : 0617L

Fulcrum Utility Services Ld

01 July 2014

 



01 July 2014   

FULCRUM UTILITY SERVICES LIMITED

NEW ALLIANCE

Fulcrum Utility Services Limited ("Fulcrum" or "the Company"), the UK based energy solutions company, is pleased to announce that it has today entered into a five year alliance with McNicholas Construction (Holdings) Ltd ("McNicholas") to deliver an enhanced proposition to customers across England and Wales. The alliance will boost competiveness and enable the Company to deliver a more streamlined service with fewer people involved in each individual project, leading to clearer ownership and improved communication with customers.

The removal of duplication in project delivery through this new arrangement will also lead to a restructuring of roles within Fulcrum and McNicholas, resulting in a more profitable model for Fulcrum moving forward. The financial impact of the arrangement is expected to be broadly neutral in 2014/15, as savings will be matched by exceptional costs. Significant annualised savings are expected to be achieved in subsequent years.  

Martin Donnachie, Chief Executive Officer at Fulcrum, said:

"Entering into this alliance represents a significant stage in Fulcrum's journey to become the UK's most trusted utilities service provider. We look forward to building on our strong working relationship with McNicholas. The alliance will allow us to be more responsive to customers, increase Fulcrum's competitiveness in key markets and deliver sales growth within our business plan."

Fulcrum also continues its drive to secure new contracts. Recent wins include:

·      Fulcrum was appointed by OCO Ltd, as part of The Improving Homes Scheme for Lambeth Living, to design and install two gas infrastructure projects with a combined value over £0.5 million - a scheme to install 75 new gas connections at 'Falmouth house' and a project to install 67 new gas supplies to properties in 'Penryn House'.

·      Fulcrum also secured a six figure contract to convert an animal food processing plant to natural gas via the installation of a new 1.5km gas pipeline.

Enquiries

Fulcrum                                                 [phone]                          (Marketing Manager)
Craig Baugh

Cenkos Securities plc                          [phone]                          (Nominated adviser and broker)
Max Hartley (Nomad) /

Alex Aylen (Sales)

Instinctif Partners                                [phone]                          (PR)
Toby Bates

Notes to Editors

Fulcrum is an energy solutions company based in Sheffield, UK. The Company's primary business is the provision of unregulated utility connection services to the residential, commercial and industrial markets throughout the UK. These range from the design, installation or alteration of connections for single site properties to large complex multi-site projects. Through its subsidiary, Fulcrum Pipelines Limited, Fulcrum is licensed as an Independent Gas Transporter, and owns and operates gas infrastructure connecting properties to the main UK gas network.

 

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