WYG Plc EU-financed Contract Wins

TIDMWYG

WYG Plc

26 January 2017

26 January 2017

WYG plc

("WYG" or "Company")

EU-financed Contract Wins

WYG, the global project management and technical consultancy, is pleased to announce it has recently been awarded a number of significant new EU-financed contracts in its international development markets worth more than EUR17m to WYG over the next 4 years, as follows:

-- Financed from the General Budget of the European Union under the instrument for Pre-Accession Assistance (IPA) II, WYG is a 31% participant in a consortium led by Mott Macdonald which has been awarded a contract with an overall value of EUR7m over 4 years to contribute to the development of a regional energy market and extension of the electricity, gas and transport networks in the Western Balkans region and its connectivity with the EU. The consortium will provide technical and advisory assistance for the preparation of investment projects in the transport and energy sectors, including studies, design and procurement. There is potential for this project (known as CONNECTA) to be extended in duration and scope up to a value in excess of EUR20m.

-- In Turkey, where cash collection (including receipts from key global price contracts) has improved as expected, WYG's market leading business has been awarded three new EuropeAid projects with a combined value to the Company of EUR5.5m - these include projects in our specialist fields of water and enterprise development.

-- WYG has also been awarded a EUR3.6m project to assist the reform of Lebanon's National Social Security Fund, which is a significant development in the drive to expand the reach of the business in the Middle East.

-- In Africa, WYG has been successful in winning a number of new projects including new public sector financial management contracts and contract extensions in Somaliland and Gambia with a combined total value of EUR2.6m.

-- In addition, WYG is partnering on a EUR3.6m project to strengthen relations between the EU and Brazil, to support the EU-Brazil Joint Action Plan 2015-2020.

Paul Hamer, Chief Executive Officer, said:

"We are delighted to be working with our consortium partners on CONNECTA, which expands our longstanding programme of work on critical infrastructure and development in the Western Balkans beyond the Infrastructure Projects Facility.

"Our continuing successes with the EU in Turkey, Africa and the Middle East demonstrate that there is a vital role for our technical expertise in international development. We continue to see a high quality pipeline of commercially attractive opportunities being tendered. Our well-established local operations in Europe, the Middle East and Africa together with our strong UK base and proven ability to deliver complex social programmes, means that we are well placed to extend our record of growth in these regions."

Contacts:

 
 WYG plc                                   Tel: 0113 
  Paul Hamer, Chief Executive Officer       278 7111 
  Iain Clarkson, Chief Financial Officer 
 MHP Communications                        Tel: 020 
  Katie Hunt / John Olsen / Ollie Hoare     3128 8794 
 N+1 Singer                                Tel: 020 
  Sandy Fraser / Nick Owen / James White    7496 3000 
 WH Ireland Limited                        Tel: 020 
  Tim Feather / Ed Allsopp                  7220 1666 
 

ENDS

NOTES TO EDITOR

About WYG

WYG is a leading programme, project management and technical consultancy employing over 1,600 people and operating from more than 50 locations across the UK, Europe, Africa, Asia and the Middle East. We specialise in creating and managing strategic assets for our clients. We engage with them in the early stages of a project, and often continue to advise them throughout its lifecycle.

Outside the UK, we have a strong, longstanding presence in a number of EU member states and pre-accession countries. We are a leader in international development, exporting our knowledge and networks to undertake ambitious projects that make a positive impact on infrastructure, socio-economic growth and the environment. Our in-house expertise encompasses seven global sectors: defence & justice, energy & waste, environment, mining & metals, social development and infrastructure, transport, and urban development. We also bring together a network of more than 20,000 partners and associates from around the world. This breadth of skills and knowledge allows us to provide a unique integrated approach to solve complex challenges wherever in the world our clients need us.

WYG plc's shares are traded on AIM, a market operated by the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 26, 2017 02:01 ET (07:01 GMT)