Van Elle Holdings PLC Strategic Contract Award - General Piling Division (2270C)

TIDMVANL

RNS Number : 2270C

Van Elle Holdings PLC

10 October 2022

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

Strategic Contract Award - General Piling Division

Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering contractor, announces a further major contract win with a key customer in the energy sector.

The project in the South East follows the award of a similar scheme in the Midlands announced in the trading update of 17 May 2022, which is progressing well. The new contract is valued at around GBP13m, is due to start on site before Christmas and complete mid-way through FY24. All works will be delivered by the General Piling division.

The contract builds the order book and contributes towards meeting consensus expectations.

Commenting on the contract award, Mark Cutler, Chief Executive of Van Elle, said:

"The energy sector is a particular focus for Van Elle given its long-term growth characteristics and our strong track record. We are very pleased to be announcing a second significant contract award in the sector this year."

For further information, please contact:

 
 Van Elle Holdings plc                       Via Walbrook 
  Mark Cutler, Chief Executive Officer 
  Graeme Campbell, Chief Financial Officer 
 
 Peel Hunt LLP (Nominated Adviser and        Tel: [phone] 
  corporate broker) 
  Ed Allsopp / Mike Bell 
 
 Walbrook PR Limited                         Tel: [phone] 
                                              or [e-mail] 
 Tom Cooper / Nick Rome                      07971 221 972 or 07748 
                                              325 236 
 

About Van Elle Holdings plc:

Van Elle Holdings is the UK's largest specialist geotechnical engineering contractor. The Company provides a range of ground engineering techniques and services including - ground investigation, general and specialist piling, rail geotechnical engineering, modular foundations, and ground improvement and stabilisation services.

Van Elle operates through three divisions: General Piling, Specialist Piling and Rail, and Ground Engineering Services; and is focused on three end markets: residential and housing, infrastructure and regional construction - across which the Group has completed more than 20,000 projects over the last 35 years.

General Piling provides a range of larger piling and ground engineering solutions for open-site construction projects. Specialist Piling and Rail provides a range of geotechnical solutions in operationally constrained environments including on-track rail applications. Ground Engineering Services offers a range of ground investigation and geotechnical services and modular foundation solutions such as Smartfoot(R). Van Elle has a market-leading reputation and the UK's largest rig fleet of 122 rigs.

Having floated on AIM in 2016 it now has a strong national presence, diversified offering and market-leading brand name.

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October 10, 2022 02:00 ET (06:00 GMT)