City briefs: Versarien’ Hercules Site Services
Advanced engineering materials group Versarien has agreed a two-year deal with Brazilian company Montana Química.
The supply agreement for some of Versarien’s Graphinks dispersions will be used in application areas such as construction, composites, coatings and lubricants.
Dr Stephen Hodge, Versarien chief executive, said: “We are delighted to be deepening our partnership with Montana through this Supply Agreement. The Supply Agreement follows the close relationship Versarien has developed with Montana and their establishment of SOMA, their advanced materials business unit, in November 2024.”
The revenue that Versarien will receive under this agreement is in addition to the existing royalty agreement with Montana.
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Hercules Site Services has appointed Jacques Kriel as business development director to grow its core labour supply business.
Kriel brings a wealth of experience in business development, infrastructure delivery and strategic growth across the civil engineering and construction industries.
He will be responsible for leading the Company’s business development strategy, identifying new opportunities and strengthening Hercules’ position within key infrastructure sectors, including rail, highways, utilities, nuclear and power & energy.
Brusk Korkmaz, chief executive of Hercules, said: “As the UK carries out substantial construction and infrastructure upgrades within the nuclear, power and energy distribution, aviation, water, and rail sectors, Jacques joins as at an important time for Hercules.
“We are laser-focused on growth in our core sectors and look forward to Jacques’ contribution to this team effort as we continue to expand and deliver value for our shareholders and clients.”
Kriel has been granted options over 300,000 ordinary shares in the company at an exercise price of 47.5p, which vest in February 2027 and expire two years later.
