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Metalcraft secures Phase 2 Sellafield box contract
Metalcraft secures Phase 2 Sellafield box contract.
About this update from Avingtrans Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2823A\n Avingtrans PLC\n 01 June 2021\n \n \n \n \n 1st June 2021\n \n \n \n \n \n Avingtrans plc\n \n \n (\"Avingtrans\" or the \"Company\")\n \n \n \n \n \n Metalcraft secures next phase of the Sellafield Limited box contract\n \n \n \n \n \n Stainless Metalcraft (Metalcraft), part of Avingtrans PLC's Process Solutions and Rotating Equipment division and Sellafield Limited, have mutually agreed to exercise the option, to enter into the second phase of the contract to provide high integrity stainless steel storage boxes for Sellafield. The 3M3 ('three metre cubed') box contract (the \"contract\") is now worth up to £70m and represents an approximately £20m uplift to the original contract awarded in 2015. The agreement to exercise the option marks Metalcraft's successful transition to the second phase of the 3M3 box work with Sellafield.\n \n \n \n \n \n The boxes will be used to store intermediate level waste (\"ILW\") retrieved from silos at legacy locations in Cumbria. In environmental terms, this storage project represents one of the most positive and important intergenerational equity deliverables of the next few decades, developing and implementing critical technology to bequeath a pristine environment to posterity.\n \n \n \n \n \n As part of this transition, Metalcraft will be producing circa 1,000 boxes over phase two of the programme, which is currently expected to take 6 years, with revenue being recognized evenly across this period. \n \n \n \n \n \n Metalcraft has invested since 2015, in creating the only dedicated facility to supply boxes for ILW in the UK. As a result, the Board believes it is in a leading position to tender for future contracts at Sellafield over the duration the site decommissioning. \n \n \n \n \n \n The Contract underpins the Group's outlook for FY22 and beyond and the Board is pleased to see Metalcraft's pipeline significantly expanding, as it establishes itself as a trusted supplier to Sellafield and commences a number of new tender processes for a wider array of projects in the nuclear decommissioning sector.\n \n \n \n \n \n \n Austen Adams, managing director of Avingtrans' Process Solutions and Rotating Equipment division, said\n \n : \"Moving on to phase two of the contract is a tremendous achievement for Meta...