For immediate release |
18 September 2015 |
HARGREAVES SERVICES PLC
(the "Group" or "Hargreaves")
Intention to mothball steelmaking at SSI
We note today's press coverage regarding the intention to mothball steelmaking at Redcar steelworks (owned by Sahaviriya Steel Industries "SSI"). We have worked hard to support the operations at SSI and will continue to do so.
At this time we await clarification of the mothballing plans to evaluate the likely impact on the material handling services and coal procurement services that we provide to the plant and will update the market in due course. As reported in the Preliminary Results statement on 11 August 2015, these contracts contributed approximately £4m of operating profit in the last financial year.
For further details:
Hargreaves Services |
0191 373 4485 |
Gordon Banham, Group Chief Executive |
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Iain Cockburn, Group Finance Director |
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Buchanan |
020 7466 5000 |
Mark Court / Sophie Cowles |
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N+1 Singer (Nomad & Joint Broker) |
020 7496 3000 |
Sandy Fraser / Nick Owen |
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Jefferies International Limited (Joint Broker) |
020 7029 8000 |
Harry Nicholas |
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