Redhall Group’s new £18m deal strengthens order book
REDHALL Group will announce today a major contract win worth up to £18m which strengthens its order book for the current financial year.
The specialist engineering support services group, based at Wakefield, has been awarded preferred bidder status on a new construction project for Vivergo Fuels in partnership with Aker Solutions.
The project, estimated to be worth £18m, involves the construction of a new bio-ethanol plant at the existing BP Chemicals Saltend site, near Hull, and is due to be completed by October this year.
Chairman, David Jackson, will make the following statement at Redhall’s AGM later today: “The project has been won by Chieftain Group working with Jex Engineering and underlines the technical skills inherited with these two acquisitions.
“We have indicated in an earlier statement that the benefits of the Chieftain acquisition would become evident during the course of this year and this award further validates that strategic move.
“Our strategy of focus on the key energy and defence markets is delivering benefits although conditions remain challenging in the short term.
“Our order pipeline remains strong and we expect to announce further progress at our interim results on June 3, 2010.”
Redhall Group saw pre-tax profits rise to £6.5m in the year to September 30, 2009, from £4.6m previously, on turnover which increased to £129m from £86.7m last time.
