Spice wins extended contracts

SUPPORT services group Spice has been awarded contract extensions with EDF Energy that will run for five years.
By The Newsroom
Published 9th Jul 2010, 10:51 BST

The Leeds-based company, which rejected another takeover approach from private equity company Cinven earlier this week, said its electricity business Freedom has extended contracts with EDF Energy for Major Substation Projects 'workstream one' and Overhead Line Works 'workstream five'.

The extended contracts, which will run to the end of 2015, are of similar value to the previous contracts.

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Martin Towers, chief executive of Spice, said:"We have an important, long standing partnership with EDF Energy, and we are delighted to have extended these contracts. This is excellent news, built upon our exceptional service delivery and technical skills base.

"Spice now has five years of revenue visibility within its important Distribution Division, in a market with strong regulatory and environmental drivers. These extensions remove further risk from Spice and adds an additional level of certainty to future work flows."

Related topics:EDF EnergyLeeds