REG-Kentz Corp Ltd Re Contract
Released: 06/03/2008
RNS Number:5535P
Kentz Corporation Ltd
06 March 2008
Kentz Corporation Limited
Contract Award
London, 6 March 2008: Kentz Corporation Limited (the "Company"), the holding
company of the Kentz engineering and construction group, is pleased to announce
the award of a contract for the provision of support services with Fluor
Corporation ("Fluor") in Kuwait.
The Company, which has provided support services to Fluor in Kuwait for the past
four years, is pleased to announce the renewal of this support services
agreement, following a recent Project Management Consultancy ("PMC") services
contract being awarded to Fluor. The Company expect this contract to result in
revenues of approximately US$90m to Kentz over the next five years.
Hugh O'Donnell, CEO of Kentz, said "This agreement further ratifies the close
working relationship between Fluor and Kentz which has been in existence for
over thirty years in the Middle East."
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About Kentz
-Kentz is a successful engineering contractor, which serves clients
primarily in the oil and gas, petrochemical and mining and metals sectors.
The Company's principal activities are the provision of mechanical,
electrical, controls and instrumentation engineering, construction and
management services
-Kentz offers services to global customers; its geographical presence aims
to reflect the demand of those clients. Kentz currently has activities in
Saudi Arabia, Kuwait, Qatar, UAE, South Africa, Mozambique, Zambia,
Madagascar, Russia, Azerbaijan, Kazakhstan, Malaysia, Indonesia, USA,
Canada, the Caribbean, Australia, Norway and Ireland. Kentz operates in some
of the most remote locations on earth
-The Group's turnover is derived from blue chip end user clients and also
from engineering, procurement and construction (EPC) contractors. The
Group's end user clients include Shell, ExxonMobil, Chevron, Marathon, HESS
and Sasol in the oil and gas sector, SIPChem, Linde and Krupp Uhde in the
petrochemicals sector and One Steel, Mittal Steel and Anglo Coal in the
mining and metals sector. The Group's EPC contractor clients include Fluor,
Bechtel, JGC, Foster Wheeler and Technicas Reunidas.
-Kentz has a proven health and safety record
-Kentz has an experienced senior management team and has the ability to
source an experienced and technically skilled workforce. The average length
of service of the top 100 core management is over 18 years. Kentz currently
employs over 7,000 people on a full time basis
-In the year ending December 2006, the company generated revenues of $370
million and profit before tax of $25 million
-Kentz can trace its origins to 1919 through the activities of various M F
Kent entities. The Company is incorporated in Jersey and is owned by two of
its senior managers and a group of Malaysian investors
This information is provided by RNS
The company news service from the London Stock Exchange
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