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Van Elle Holdings plc announced a new contract win for its General Piling division with a key customer in the energy sector. This project, valued at approximately £13 million, is due to start on site before Christmas and complete midway through FY24.
| Date | 10 Oct 2022 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 2270C |
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 £13m, 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:
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Van Elle Holdings plc Mark Cutler, Chief Executive Officer Graeme Campbell, Chief Financial Officer |
Via Walbrook |
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Peel Hunt LLP (Nominated Adviser and corporate broker) Ed Allsopp / Mike Bell |
Tel: 020 7418 8900 |
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Walbrook PR Limited |
Tel: 020 7933 8780 |
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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®. 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.