New Suction Excavator Services Client

RNS Number : 0699S

Hercules Site Services PLC

07 March 2023

 

7 March 2023

 Hercules Site Services plc 

("Hercules" or "the Company")

New Suction Excavator Services Client

Hercules Site Services plc (AIM: HERC), a leading technology enabled labour supply company for the UK infrastructure sector, is pleased to announce that it has entered into an agreement with Amey Highways Limited ("Amey") to be Amey's sole supplier of suction excavator services to the National Highways Area 7 (East Midlands) contract.

Under the terms of the agreement, Hercules will supply suction excavators and associated skilled operators to Amey for a period of three years. The initial order is for up to £2,000,000, and will be reviewed every three years, or earlier if required. This agreement is in line with Hercules' objective of maintaining a high utilisation rate across its suction excavator fleet. Amey is a new client of Hercules' suction excavator services.

As previously announced, due to high demand, Hercules is expecting further deliveries of suction excavators in March, increasing the Company's fleet from 20 to 30 suction excavators.

Brusk Korkmaz, Hercules' Chief Executive Officer, commented:

"This agreement with Amey is an excellent validation of our suction excavator services strategy, which has seen us rapidly expand our fleet over the past 12 months. We will soon have one of the largest fleets in the UK, positioning us to capture strong demand being driven by the fact that suction excavators can safely and efficiently excavate significant quantities of materials or debris, while reducing the risk of service strikes.

"The UK infrastructure market continues to go from strength to strength and we are well placed to benefit from this with our multi-disciplinary services offering. Most recently, we were pleased to see that two of our major customers and strategic framework partners, Balfour Beatty Highways and Galliford Try , have both been awarded major projects. The former has been appointed to deliver National Highways 'Roads North of the Thames' package of works for the proposed Lower Thames Crossing, while Galliford Try's Environment business has secured a place on Southern Water's new AMP8 framework."

-ENDS-

For further information and enquiries, please contact:

Hercules Site Services plc Brusk Korkmaz (CEO) Paul Wheatcroft (CFO)	c/o SEC Newgate
SP Angel (Nominated Adviser and Broker) Matthew Johnson / Adam Cowl / Harry Davies-Ball (Corporate Finance) Grant Barker / Rob Rees (Sales and Broking)	[phone]
SEC Newgate (Financial PR) Elisabeth Cowell / Ian Silvera	[phone] [e-mail]

About Hercules Site Services plc

Hercules is a leading tech enabled labour supply company for the UK infrastructure sector. Founded in 2008, Hercules has an established track record of profitability and fast-growth and has built a blue-chip customer base which includes Balfour Beatty, Costain, Kier, Skanska, Dyer & Butler and Volker Fitzpatrick. The Company has been appointed to provide labour for a range of high-profile infrastructure projects, such as HS2, due to its agile, innovative, digital first approach and complete service offering. It is well-placed to benefit from any government increase in infrastructure spending and its experienced management team has identified multiple opportunities for growth.

 

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