Hercules Site Services PLC on Monday said it has inked a five-year contract to supply specialist rail labour.
Hercules is a Cirencester, England-based, technology-enabled labour supply company for the UK infrastructure sector.
The contract is with Balfour Beatty Rail Ltd, a subsidiary of London-based construction services company, Balfour Beatty PLC.
Hercules has agreed to be one of six suppliers of labour for Balfour, as the construction company is set to carry out work for Network Rail, Transport for Wales, and London Underground across a five-year period.
Hercules Chief Executive Officer Brusk Korkmaz commented: ‘This contract provides Hercules with an exciting new revenue stream which has strong potential for continued growth.
‘While we have previously provided personnel to deliver heavy civils and earthworks to pre-enable rail-based projects, this contract will see us recruit specialist rail labour on live track on behalf of a customer for the first time, opening up a wider range of opportunities for Hercules in the rail industry. Given that we have worked with Balfour Beatty group for many years, this news also demonstrates our ability to grow our total customer value due to the quality of the services we provide.’
Shares in Hercules were down 0.8% at 25.30 pence each in London on Monday at around midday.
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