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Silverdell PLC (SID)

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Monday 14 January, 2013

Silverdell PLC

Silverdell ?12m decommissioning contract

RNS Number : 4146V
Silverdell PLC
14 January 2013
 



Silverdell PLC

("Silverdell" or "the Company")

 

Silverdell awarded £12 million decommissioning and re-sale contract in Canada

 

Silverdell PLC (AIM: SID), the Specialist Environmental Support Services group, announces that it has signed a contract with Hydro Québec, Canada's largest electricity generator, for the decommissioning and parts re-sale of its redundant Tracy thermal power plant in a project worth approximately £12 million in revenues to Silverdell.

 

Under the terms of the agreement, Silverdell will market approximately 37,000 tonnes of re-usable plant, equipment and metals for industrial sale. The Group will then undertake the decommissioning of the power plant, including asbestos removal, dismantling and the sale of the reusable assets.

 

Work is scheduled to commence in Q2 2013 and is expected to complete within 12 months.

 

Sean Nutley, Chief Executive Officer for Silverdell Plc, commented:

 

"A key part of our growth strategy, 'Changing the Landscape', as set out in our preliminary results statement last December, is to leverage our enhanced scale and capability to exploit new market opportunities worldwide. That is exactly what we have done with this contract. The acquisition of EDS afforded us entry to the high value global decommissioning and re-sale market with a project which is ideally suited to our end-to-end service offering."

 

14 January 2013

 

Notes

 

Hydro Québec is a public utility owned by the Government of Québec, and is Canada's largest electricity generator. With sixty hydroelectric generating stations, it is also the world's largest hydroelectric producer. The Tracy thermal power plant, which will be dismantled by Silverdell, was built in the 1960s, is oil-fired and covers an area totaling 11,140m2

 

 

ENQUIRIES:

Silverdell

Tel: + 44 20 7389 6800

Sean Nutley, Group Chief Executive


Ian Johnson, Group Financial Director




finnCap

Tel: + 44 20 720 0500

Marc Young (Corporate Finance)


Ben Thompson (Corporate Finance)


Victoria Bates (Corporate Broking)




College Hill


Helen Tarbet

Tel: + 44 20 7457 2020

Mark Garraway

                                     + 44 78 2560 9737



 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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