RA International Awarded Contract with FDC
This announcement contains inside information.
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company" and, together with its subsidiaries, the "Group")
Contract Award for US Embassy in Denmark
RA International Group PLC (AIM: RAI) is pleased to announce it has been awarded a contract by Facilities Development Corporation ("FDC") to support the delivery of the Copenhagen Chancery Select Improvement project, which is being carried out on behalf of the Bureau of Overseas Buildings Operations ("OBO") who direct the worldwide overseas building program for the U.S. Department of State.
Under the terms of the contract, RA International will provide construction services in connection with the refurbishment and upgrade of the U.S. Embassy in Denmark (the "U.S. Embassy Contract"). The works are due to commence in the second quarter of 2019 and are expected to complete in late 2021.
The nature and geographical location of the services being provided under the U.S. Embassy Contract are expected to lead to a lower margin being generated than the Company would typically earn on this type of project in remote locations. The Board believes, however, that successful delivery of this contract will be another clear demonstration of RA International's ability to execute significant and high-profile projects.
Soraya Narfeldt, CEO of RA International, commented: "We are honoured to have been awarded this contract by FDC and to continue our relationship with the United States Government. The location and structure of this project are quite different from our standard contracts, but we are confident that working alongside FDC, an OBO contractor with 30+ years of experience, and with our local partners, this will be a successful project and will lead to further opportunities in the future.
"This contract award not only demonstrates our capabilities and proven track record of managing and delivering complex projects but also underlines RA International's growing reputation within the industry to have been selected by FDC for this U.S. Embassy project."
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Enquiries:
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RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
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Via Hudson Sandler |
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Cenkos Securities PLC (Nominated Adviser and Broker) Beth McKiernan Derrick Lee
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+44 (0)131 220 6939 |
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Hudson Sandler LLP (Financial PR & IR) Daniel de Belder Nelly Akpaka
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+44 (0)207 796 4133 |
About RA International
RA International is a leading provider of services in remote locations across Africa and the Middle East. It specialises in three service verticals: construction; integrated facilities management; and supply chain. It has a strong and loyal customer base, largely comprising UN agencies, western governments, and global corporations.
The Group provides comprehensive, flexible, mission-critical support to its clients enabling them to focus on the delivery of their respective businesses and services. RA International's focus on integrity and values alongside on-going investment in people, locations and operations has over time created a reliable and trusted brand within its sector.
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