AGK Aggreko Plc

TIDMAGK

RNS Number : 4969J

Aggreko PLC

18 December 2015

18 December 2015

Aggreko plc

Withdrawal from Rio de Janeiro 2016 Olympic Games and Paralympic Games

Bid Process

Aggreko plc (Aggreko) announces that it has withdrawn from the bidding process for the 2016 Rio de Janeiro Olympic and Paralympic Games.

The contracting entities have taken the decision to award the power provision in parts and we have been advised that we have not been awarded the first tranche of contracts. Given the preparation required for an event of this scale, we have withdrawn from bidding for the remaining tranche.

Chris Weston, Aggreko Chief Executive, said: "We have given considerable thought to our decision to withdraw from the bidding process and I would like to thank our team for all their hard work. We wish Brazil, the Rio 2016 Committee and the International Olympic Committee the very best for a successful games."

Enquiries

 
 Investors & Analysts 
                                +44 7876 478 
 Louise Bryant, Aggreko plc      272 
 Media 
 John Sunnucks / Liz Morley,    +44 20 3772 
  Bell Pottinger                 2500 
 

Notes to Editors

Aggreko plc is the leading global provider of modular, mobile power and adjacent product solutions. Aggreko employs over 7,700 people operating from 211 locations. In 2014 we served customers in about 100 countries, and had revenues of approximately GBP 1.6bn (USD 2.6bn or Euros 2.0bn). Aggreko plc is listed on the London Stock Exchange (AGK.L) and is headquartered in Scotland.

In the Rental Solutions business, we operate in developed markets and develop solutions for, and hire our equipment to, customers who then operate it for themselves, although we retain responsibility for servicing and maintaining it. We operate across all sectors in the market, but are heavily involved in oil and gas, petrochemical and refining, mining and events.

In the Power Solutions business, we operate in emerging markets as a power producer. We install and operate modular, mobile power plants for both utility and industrial customers and we charge both for providing the generating capacity, and for the electricity we produce. In our Industrial business, as in Rental Solutions, we are market leaders in oil and gas, petrochemical and refining and mining, whilst our utility business helps countries solve their power shortages.

We design and manufacture equipment specifically for these requirements in our factory in Dumbarton, Scotland.

This information is provided by RNS

The company news service from the London Stock Exchange

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