Business
North Africa Contract Win - C
North Africa Contract Win - C.
About this update from Plexus Holdings
[{"type":"text","content":"\n RNS Number : 4499G Plexus Holdings Plc 01 February 2010 \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n1 February 2010\nPlexus Holdings PLC ('Plexus' or 'the Company')\nNorth Africa Contract Win - Cairn Energy\n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, has received a Letter of Award from the Cairn Energy PLC Group, ('Cairn') a leading oil and gas exploration company listed on the London Stock Exchange (CNE.L), to supply its POS-GRIP® wellhead system and mudline suspension system for exploration work due to take place offshore Tunisia. Plexus believes that this contract will generate revenues of more than £200,000 commencing in January, 2010.\n \nPlexus will supply standard 10,000 psi POS-GRIP technology, which is gaining a reputation in the oil and gas industry for its enhanced safety, time and cost saving capabilities. Importantly, this agreement confirms the securing of a new Plexus customer and marks another step in Plexus' geographic expansion strategy, as the Company builds its position in North Africa.\n \nPlexus CEO Ben van Bilderbeek said: \"Whilst this is a relatively small contract, it is another important milestone for the Company as it represents our first agreement with Cairn Energy. We look forward to working with Cairn's team and further strengthening the relationship in the future.\"\n \n* * ENDS * *\n \nFor further information please visit www.posgrip.com or contact: \n\n\n\n\nBen van Bilderbeek\n\n\nPlexus Holdings PLC \n\n\nTel: 020 7589 8555\n\n\n\n\nGraham Stevens\n\n\nPlexus Holdings PLC\n\n\nTel: 020 7795 6890\n\n\n\n\nAlex Dewar\n\n\nBrewin Dolphin\n\n\nTel: 0845 213 2076\n\n\n\n\nFelicity Edwards\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nIsabel Crossley\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\n \nNotes to Editors:\n \nPlexus, which began trading on AIM in December 2005, is an established oil and gas engineering and services business which supplies wellhead and mudline suspension equipment for exploration and production applications based in Aberdeen, with an offi...