CIU Cape

TIDMCIU

Cape plc

06 April 2017

News Release

06 April 2017

Multi-disciplinary contract awarded in Kuwait

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to announce its Kuwait based subsidiary Cape East General Contracting Company W.L.L has been awarded a prestigious contract from Heavy Engineering Industries & Shipbuilding Co. (HEISCO) covering painting, insulation and passive fire protection at Kuwait National Petroleum Company's (KNPC) Fifth Gas Train project. This is the first combined multi-disciplinary contract awarded to Cape in Kuwait and is aligned with the Company's regional growth strategy.

Fifth Gas Train is a strategic project for KNPC that will raise the production capacity of gas and its derivatives at the Mina Al-Ahmadi (MAA) refinery; the new units at MAA will produce 805 million cubic feet of gas per day along with 106,000 barrels per day of liquids.

Kuwait General Manager, Liam Hully commented: "We are delighted to secure this work package with HEISCO at the Fifth Gas Train project, which is an important part of the wider investment initiatives and growth ambitions currently being driven in Kuwait. We look forward to developing our relationship as we support this significant project."

About Cape:

Cape (www.capeplc.com), which is premium listed on the main market of the London Stock Exchange, is an international leader in the provision of critical industrial services principally to the energy and natural resources sectors. Our multi-disciplinary service offering includes access, insulation, mechanical and specialist coatings and fireproofing, environmental services, heat exchanger replacement and refurbishment, storage tanks and refractory. In 2016, Cape employed c.16,100 people working across 23 countries and reported revenue of GBP863.5 million.

- End -

Enquiries

Cape plc +44 (0) 1895 459 979

Joe Oatley, Chief Executive

Michael Speakman, Chief Financial Officer

Ian Wood, Head of Investor Relations

Buchanan +44 (0) 207 466 5000

Bobby Morse, Ben Romney, Chris Judd

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRASSDFWIFWSESL

(END) Dow Jones Newswires

April 06, 2017 02:01 ET (06:01 GMT)

Cape PLC (LSE:CIU)
Historical Stock Chart
From Mar 2024 to Apr 2024

Cape PLC (LSE:CIU)
Historical Stock Chart
From Apr 2023 to Apr 2024