Aggreko PLC Withdrawal from 2016 Olympic Games Bid Process (4969J)
18 December 2015 - 6:00PM
UK Regulatory
TIDMAGK
RNS Number : 4969J
Aggreko PLC
18 December 2015
18 December 2015
Aggreko plc
Withdrawal from Rio de Janeiro 2016 Olympic Games and Paralympic
Games
Bid Process
Aggreko plc (Aggreko) announces that it has withdrawn from the
bidding process for the 2016 Rio de Janeiro Olympic and Paralympic
Games.
The contracting entities have taken the decision to award the
power provision in parts and we have been advised that we have not
been awarded the first tranche of contracts. Given the preparation
required for an event of this scale, we have withdrawn from bidding
for the remaining tranche.
Chris Weston, Aggreko Chief Executive, said: "We have given
considerable thought to our decision to withdraw from the bidding
process and I would like to thank our team for all their hard work.
We wish Brazil, the Rio 2016 Committee and the International
Olympic Committee the very best for a successful games."
Enquiries
Investors & Analysts
+44 7876 478
Louise Bryant, Aggreko plc 272
Media
John Sunnucks / Liz Morley, +44 20 3772
Bell Pottinger 2500
Notes to Editors
Aggreko plc is the leading global provider of modular, mobile
power and adjacent product solutions. Aggreko employs over 7,700
people operating from 211 locations. In 2014 we served customers in
about 100 countries, and had revenues of approximately GBP 1.6bn
(USD 2.6bn or Euros 2.0bn). Aggreko plc is listed on the London
Stock Exchange (AGK.L) and is headquartered in Scotland.
In the Rental Solutions business, we operate in developed
markets and develop solutions for, and hire our equipment to,
customers who then operate it for themselves, although we retain
responsibility for servicing and maintaining it. We operate across
all sectors in the market, but are heavily involved in oil and gas,
petrochemical and refining, mining and events.
In the Power Solutions business, we operate in emerging markets
as a power producer. We install and operate modular, mobile power
plants for both utility and industrial customers and we charge both
for providing the generating capacity, and for the electricity we
produce. In our Industrial business, as in Rental Solutions, we are
market leaders in oil and gas, petrochemical and refining and
mining, whilst our utility business helps countries solve their
power shortages.
We design and manufacture equipment specifically for these
requirements in our factory in Dumbarton, Scotland.
This information is provided by RNS
The company news service from the London Stock Exchange
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