Infrastrata PLC (INFA.L) Harland & Wolff Group News Update

The Harland & Wolff Group of Companies is pleased to report a trio of firsts across Belfast and Appledore. The Belfast team has recently provided its first major in-service support to a Virgin cruise vessel. This is a significant step towards providing high value-add services to clients whilst vessels are in operation without the need to dry dock and incur additional costs by taking vessels out of service.

The Dorset Spirit is currently sailing from Canada to the Building Dock in Belfast for repair works. This is the first time since the acquisition of the assets of Harland & Wolff (Belfast) that a vessel of this size will grace the Building Dock and remain there until the works have been completed. At the same time, the Company is pleased to report that it is currently hosting the P&O Azura at the quayside of the Repair Dock of the Belfast facility. The Azura is the largest cruise vessel to have entered and docked at Harland & Wolff (Belfast).

At Appledore, the Company awaits the arrival of the MT Entsha towards the third week of October. Fabrication work has already commenced on a major crane upgrade that will be required on the vessel once she is in the dock. This project effectively reactivates the fabrication halls of Appledore and demonstrates its readiness to take on larger and more complex works programmes.

As reported in the press earlier, Team Resolute has been down-selected by the Ministry of Defence for the Fleet Solid Support Programme and has been invited into the next phase of the programme – the Commercial Procurement Phase (CPP). Harland & Wolff is an integral part of Team Resolute and will be participating in the first stage, the design stage, within the CPP, alongside BMT and Navantia. Further, the Harland & Wolff led consortium consisting of Foreship and SMC is one of the bidders that has been down-selected for the design phase of the prestigious National Flagship Programme.

John Wood, Group CEO of commented: “I t is fantastic to see multiple contracts being awarded to Harland & Wolff across Belfast and Appledore. These range from minor “bread & butter” type of works to major contracts that have the capacity to grow in value over time. We are now being recognised as a shipyard business that is professional, cost effective and customer attentive. This recognition is clearly demonstrated by a series of new client wins and repeat business from our existing clients. Looking ahead, I believe that we have laid the firm foundations for rapid growth and the build-up of a contractual pipeline for 2022 and beyond .”

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, oil & gas and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion.

Its Belfast yard is one of Europe’s largest heavy engineering facilities, with deep water access, two of Europe’s largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where this will be significant demand.

In February 2021, the company acquired the assets of two Scottish based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewable, oil and gas and defence sectors.

Harland & Wolff is a wholly-owned subsidiary of InfraStrata plc (AIM: INFA) – soon to be known as Harland & Wolff Group Holdings plc. InfraStrata plc, the London Stock Exchange-listed firm focused on strategic infrastructure projects and physical asset life-cycle management applied to Companies House to trade under the new name on September 14, 2021. The company believes that this change of name will better reflect its ambition in expanding its core business and the significant development of its shipbuilding and fabrication activities.

In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK’s natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.

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