15 April 2024
Hercules Site Services
plc
("Hercules" or the
"Company")
Costain Labour Framework
Agreement
Hercules Site Services plc (AIM: HERC), a
leading technology enabled labour supply company for the UK
infrastructure and construction sectors, is pleased to announce
that it has joined the UK-wide labour framework of Costain Ltd,
part of Costain Group plc ("Costain"), after a successful tender
process.
Costain has announced that a newly formed
Integrated Labour Team ("ILT") will become the first point of
contact for any blue-collar labour supply requirement for any
project, across all sectors in which it operates. These sectors
include water, rail, highways, defence, energy, nuclear, oil and
gas and aviation.
The move comes after Costain, a long-standing
client of Hercules, decided to significantly reduce its supply
chain for skilled blue-collar infrastructure and construction
workers. Hercules is one of four labour suppliers on the new
ILT.
Brusk Korkmaz,
Chief Executive Officer, said: "We are
delighted to further cement our relationship with Costain. We have
been working together on a project-by-project basis for over a
decade.
"This agreement between our companies means
Hercules has the potential to work across all of Costain's projects
and sectors beyond highways and water, where we are currently
partnered.
"The agreement is also further testament to
Hercules' growing reputation across the infrastructure and
construction sectors as one of the UK's leading labour
suppliers."
Sarah Thomas,
Head of Supply Chain at Costain Group PLC, said:
"Our partnership with the ILT brings added value and benefits
to Costain and is changing how temporary operational resource is
considered.
"The ILT holds expert market information, useful
for resource planning and winning bids. We can engage with
ILT earlier to confirm a pipeline of resources. And we have
real employment terms for temporary operational resources, ensuring
fairness, wellbeing, and ongoing engagement."
For
further information and enquiries, please
contact:
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Hercules Site
Services plc
Brusk Korkmaz (CEO)
Paul Wheatcroft (CFO)
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c/o SEC Newgate
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SP Angel
(Nominated Adviser and Joint Broker)
Matthew Johnson / Adam Cowl (Corporate
Finance)
Grant Barker / Rob Rees (Sales and
Broking)
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+44 (0) 20 3470 0470
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Cavendish
Capital Markets Limited (Joint Broker)
Adrian Hadden / Charlie Combe / Dale Bellis
(Sales and Broking)
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+44 (0) 20 7397 8900
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SEC Newgate
(Financial Communications)
Elisabeth Cowell / Ian Silvera / Matthew
Elliott
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+44 (0) 20 3757 6882
Hercules@secnewgate.co.uk
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About Hercules Site
Services PLC
Hercules is a leading tech enabled labour supply
company for the UK infrastructure sector. Founded in 2008, Hercules
has an established track record of profitability and fast-growth
and has built a blue-chip customer base which includes Balfour
Beatty, Costain, Kier, Skanska, Dyer & Butler and Volker
Fitzpatrick. The Company has been appointed to provide labour for a
range of high-profile infrastructure projects, such as HS2, due to
its agile, innovative, digital first approach and complete service
offering. It is well-placed to benefit from any government increase
in infrastructure spending and its experienced management team has
identified multiple opportunities for growth.
About
Costain
Costain helps to improve people's lives by creating
connected, sustainable infrastructure that enables people and the
planet to thrive. We shape, create and deliver pioneering solutions
that transform the performance of the infrastructure ecosystem
across the UK's transport, energy, water, and defence markets. We
are organised around our customers anticipating and solving their
challenges and helping to improve performance. By bringing together
our unique mix of construction, consulting and digital experts we
engineer and deliver sustainable, efficient and practical
solutions.