TIDMHARL

Harland & Wolff Group Holdings PLC

16 February 2023

16 February 2023

Reach

Harland & Wolff Group Holdings plc

("Harland & Wolff" or the "Company")

Cory Barges Update

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, provides an update on the Cory Barges contract.

The Company is pleased to report that the first hull for the Cory Barges fabrication contract has been successfully completed at the Company's Belfast facility.

The first major milestone for this contract has now been reached. The client has approved the hull and this will now pass into the painting hall prior to its delivery later in Q1 2023. The second barge will also soon be completed, whilst the next two are also well advanced. The work being undertaken on these barges has supported the facility in advancing vital shipyard skills which will be required for the Fleet Solid Support warship programme. Fabrication is now being conducted simultaneously on all barges throughout the production hall with numerous work stations set up and the project team tracking progress on a daily basis with the newly implemented IFS ERP Projects Module.

John Wood, Group Chief Executive Officer, Harland & Wolff comments: "It is fantastic to walk round the fabrication halls in Belfast and see them being a hive of activity, with our apprentices putting into practice the skills they have learned from our experienced workforce. It has been fascinating to watch the adoption of new technology with our twin headed robotic welding line delivering production improvements by a magnitude of four to six times against conventional production and welding methods. I am very encouraged with the progress being made and it is the perfect stepping stone towards full scale shipbuilding."

 
 Harland & Wolff Group Holdings plc                +44 (0)20 3900 
  John Wood, Chief Executive Officer                2122 
  Seena Shah, Head of Marketing & Communications    investor@harland-wolff.com 
                                                    media@harland-wolff.com

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, energy and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion.

Its Belfast yard is one of Europe's largest heavy engineering facilities, with deep water access, two of Europe's largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where there will be significant demand.

In February 2021, the company acquired the assets of two Scottish-based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewables, energy and defence sectors.

In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.

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February 16, 2023 02:00 ET (07:00 GMT)

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