Silverdell PLC Silverdell £12m decommissioning contract (4146V)

TIDMSID

RNS Number : 4146V

Silverdell PLC

14 January 2013

Silverdell PLC

("Silverdell" or "the Company")

Silverdell awarded GBP12 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 GBP12 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 11,140m(2)

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 
 
 

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