AUG Augean Plc

TIDMAUG

RNS Number : 7066V

Augean Plc

20 April 2016

20 April 2016

Augean plc

("Augean" or "the Group")

New contracts

Augean, one of the UK's leading specialist waste management businesses, is pleased to announce that it has entered into several new contracts with an existing customer to treat and dispose of air pollution control residues (APCR).

As stated in the Group's recent preliminary results, growth in the volume of APCR treated by the Group's Energy and Construction business remains a key strategic objective in the short and medium term. These new contracts, which were awarded following a competitive tender process, are delivering on that objective and include the retention of an estimated annual tonnage of 24,000 tonnes and an additional annual tonnage of 25,000 tonnes, of which 13,000 tonnes will be incremental in the financial year ending 31 December 2016.

The contracts terminate no earlier than 31 March 2019, with the customer having the option to extend the contracts for up to two further years beyond that date.

Stewart Davies, Chief Executive, commented:

"We are delighted to be awarded these contracts, which align with a key strategic aim of the Group to expand our contracted revenue base in growth markets with our specialist hazardous waste services. The growth in APCR volumes brought by the new contracts will help the Group to continue development of its services to this competitive and growing market, and underpins existing management expectations."

For further information, call:

 
 Augean plc 
  Dr Stewart Davies, Chief 
  Executive 
  Richard Laker, Group Finance 
  Director                        01937 844 980 
 N+1 Singer 
  Shaun Dobson 
  Richard Lindley 
  Jennifer Boorer                 020 7496 3000 
 FTI Consulting 
  Oliver Winters 
  Adam Cubbage 
  Fiona Walker                    020 3727 1535 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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