CIRCULATED VIA RNS REACH
21 September 2016
Servelec Group plc
("Servelec" or the "Group")
Servelec awarded National Grid Gas Framework Contract
Servelec, the UK-based technology and software group, confirms the Group has been awarded a place on the National Grid Framework Agreement [as highlighted in the recent trading update]. The award positions Servelec's Controls business as a preferred provider of design, supply, system integration and maintenance support services in relation to instrumentation, electrical, controls, automation and telemetry equipment.
Winning a place on this framework presents Servelec with opportunities to sell into a significant addressable market supporting the installation of new assets, pipeline diversions and maintenance of the gas transmission system. The term of the framework is fixed for five years with an optional two-year extension.
As the sole owner and operator of gas transmission infrastructure in the UK, all gas used domestically has to pass through National Grid's Gas Compression and Transmission network whilst making its way into the distribution system and on to consumers. Keeping this critical network functioning is vital for the provision of gas into homes and businesses and requires substantial investment from National Grid into both existing and new infrastructure.
Through this framework Servelec will supply critical systems on a project-by-project basis for at least the next five years and the contract further complements the substantial work completed by Servelec for major upstream clients such as Centrica, Eon, Perenco and BP over the last four decades.
Andrew Mills, Managing Director of Servelec Controls (Oil & Gas) commented:
"This award demonstrates National Grid's confidence in Servelec Control's continued ability to support their critical national infrastructure and builds on the positive relationship Servelec and National Grid have shared for many years. We look forward to further enhancing our reputation for technical excellence with National Grid Gas."
Servelec has over 40-years of experience serving the UK and international oil and gas industry from exploration and production through to storage and distribution.
For further enquiries, please contact:
Servelec Group plc
Alan Stubbs, Chief Executive Officer
Mike Cane, Chief Financial Officer
+44 (0) 1246 437 400
Investec Bank plc
Patrick Robb/Dominic Emery
Sebastian Lawrence/Matt Lewis
+44 (0) 207 597 5097
James Macey-White/ Nick Hennis
+44 (0) 20 7353 4200
Notes to Editors:
Servelec Group plc is a UK-based technology group, with significant intellectual property, providing software, hardware and services predominantly to the UK healthcare, oil & gas, nuclear, power, water, utilities and broadcast sectors.
Servelec has two operating divisions; Servelec Health & Social Care and Servelec Automation:
- Servelec Health & Social Care specialises in the design, development and implementation of Electronic Patient Record (EPR) and Patient Administration Systems (PAS) and Social Care Case Management software within secondary care and social care settings and is a market leader in the Mental Health, Community Health and Social Care sectors in England.
- Servelec Automation provides complex, mission-critical control systems to large blue-chip companies mainly in the UK, focusing on the oil & gas, nuclear, power, water, utilities and broadcast industries. Servelec Automation also provides services from consultancy through to design, implementation, delivery, installation and on-going customer support and maintenance.
This information is provided by RNS