ENGINEERING CONSULTANCY WYG has been awarded a new contract worth up to £4.5m to support the Polish government’s initiative to help the unemployed.
The Leeds-based company said the contract will support the Silesian Labour Office in eight districts of the industrial region. £1.55m will come from the first stage of the project, which is scheduled to be delivered over the next 18 months.
WYG will provide short-term training and assistance to the unemployed.
The estimated budget allocation by the Polish government for the overall programme is £39m in 2016, It is now reaching the tender stage in regions throughout Poland.
WYG’s CEO Paul Hamer said: “I am delighted to announce this contract win, particularly as it is for such a worthwhile cause. This is one of the first of a number of similar projects under the overall programme which are expected to be tendered by the regional labour offices financed through the Labour Ministry in Poland.
“The contract award demonstrates that government and EU funds are again starting to flow following the recent hiatus in spending. WYG is very well placed to take advantage of future growth opportunities in Poland.”
Analyst James Tetley at N+1 Singer said: “This is positive news, confirming that EU funds are being released after the recent hiatus, and there are a number of similar projects to be tendered later on in 2016.
“The shares have drifted somewhat in recent weeks and now, in our view, look excellent value.”