Cape : awarded two-year insulation, painting and refractory contract in KSA

15 May 2017

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to announce its Kingdom of Saudi Arabia (KSA) subsidiary, Cape RB Hilton, has secured a two-year maintenance contract with Sadara Chemical Company (Sadara) for the provision of insulation, painting and refractory services.

Established in October 2011, Sadara is a joint venture developed by the Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow). It is an unprecedented undertaking - the world's largest chemical complex ever built in a single phase, with 26 integrated world-scale manufacturing plants and capacity of over 3 million metric tons per annum. Sadara supports Saudi Arabia's industrial and social diversification by extending key value chains downstream.

This award is an important win for Cape, providing an opportunity to develop a long-term relationship with Sadara. Successful delivery of the existing contracted maintenance services will allow Cape to demonstrate the Group's capability in delivering a wide-range of traditional and specialist services.

Paul Cockerill, Managing Director KSA & Bahrain commented: 'We are delighted to have been awarded this contract. Our commitment and successful execution throughout the construction and commissioning phases, along with the initial short-term maintenance contract with Sadara, played a vital role in winning this key contract. We look forward to utilising our global expertise and local knowledge to deliver these critical maintenance services to Sadara in a safe, cost effective and efficient manner.'

About Cape:

Cape (www.capeplc.com), which is premium listed on the main market of the London Stock Exchange, is an international leader in the provision of critical industrial services principally to the energy and natural resources sectors. Our multi-disciplinary service offering includes access, insulation, engineering and specialist coatings and fireproofing, environmental services, heat exchanger replacement and refurbishment, storage tanks and refractory. In 2016, Cape employed c.16,100 people working across 23 countries and reported revenue of £863.5 million.

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