Keller Group PLC Major Contract Award in Russia (4014B)

TIDMKLR

RNS Number : 4014B

Keller Group PLC

03 April 2013

For immediate release 3 April 2013

Keller Group plc

Major Contract Award in Russia

Keller Group plc ("Keller" or "the Group"), the international ground engineering specialist, announces that it has been awarded its largest contract to date in Russia. Worth approximately RUB 1.6bn (GBP35m), the contract is for the preparation of a complete excavation pit for one of Russia's leading real estate development, construction and building materials companies.

The contract is part of the development of a new 46,000 m(2) residential complex located in central Moscow. The development will comprise several multi-storey buildings constructed above shared, two-level underground parking for some 1,800 cars.

Keller will be responsible for the construction of approximately 17,000 m(2) of diaphragm wall to provide excavation support, together with the associated strutting, earthworks, dewatering and foundation slab. Support for the project will come from Poland, where Keller has completed a number of excavation pits and developed significant major project expertise.

Work is expected to commence shortly and to complete in spring 2014.

Justin Atkinson, Keller Chief Executive, commented:

"This award comes on the back of several smaller contacts in Russia completed by Keller in recent years, including the foundations for the ice rink in Sochi for the 2014 Winter Olympics. It is encouraging to see our business gaining traction in this growing market."

"The construction of complete excavation pits is a good example of how we continue to broaden the range of services we offer to meet our customers' total foundation requirements. This contract win also illustrates the success of our strategic initiative to increase our exposure to major projects."

For further information, please contact:

 
 Keller Group plc 
 Justin Atkinson, Chief Executive                          020 7616 7575 
 James Hind, Finance Director 
 
 Finsbury 
 Gordon Simpson/Rowley Hudson                               020 7251 3801

Notes to Editors:

Keller is the world's largest independent ground engineering specialist, providing technically advanced and cost-effective foundation solutions to the construction industry. With annual revenue of GBP1.3bn, Keller has approximately 7,000 staff world-wide.

Keller is the clear market leader in the US and Australia; it has prime positions in most established European markets; and a strong profile in many developing markets.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBLGDSDDGBGXD

Keller (LSE:KLR)
Historical Stock Chart
From Jun 2024 to Jul 2024