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News » UK » Hinkley contract delays hit Redhall » published 15 Mar 2018

Hinkley contract delays hit Redhall

Redhall subsidiary Jordan Manufacturing has signed three contracts with Balfour Beatty for the supply of specialist manufactured metal products for the marine works at Hinkley Point C.

Hinkley Point C Above: Hinkley Point C

However, having previously been named preferred bidder, the delay in reaching contract signing has delivered a knock to Redhall’s finances, the company has warned.

It said: “Delays in large orders can have a significant impact on reported results and this delay, combined with those in other contract programmes and awards at our manufacturing businesses, has led the board to conclude that the group's financial performance for the current financial year, which will naturally be second half weighted, is likely to be adversely affected.”

In December Jordan Manufacturing also secured a framework valued at £18m over three years to manufacture containment systems and associated process equipment for Cavendish Nuclear.

Redhall chief executive Phil Brierley added: "We are delighted to have secured these important contracts with Balfour Beatty and look forward to making a significant contribution to the Hinkley Point C project. Together with our framework to manufacture containment systems for Cavendish Nuclear, we are clearly demonstrating the market's confidence in the Group's capabilities to deliver complex high integrity manufactured product.

"Whilst it is disappointing that the timing of contract awards has impacted our current year expectations, these are our first significant orders on what is a critical infrastructure project for the UK.  We believe these contracts will be the first of many on the Hinkley Point C project and in the nuclear sector as a whole in the coming years."

 

MPU

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This article was published on 15 Mar 2018 (last updated on 15 Mar 2018).

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