Energy services company Cape has been awarded a three-year extension of its contract with petrochemical firm Saudi Basic Industries Corporation (SABIC).
Cape is providing support services to SABIC sites located in north east England's Teesside.
The agreement will run until 2015 with SABIC, a petrochemical company which produces polyethylene, polypropylene, glycols, methanol and fertilisers.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Managing Director of Cape UK and Europe, Steve Connolly, said: "We are delighted to be awarded this extension to Cape's existing maintenance contract in recognition of our commitment to continue to deliver value to SABIC's facility through our focus on HSEQ performance, efficiency and sustainability.
"Through this landmark contract, delivered within an integrated alliance we are pleased to continue our successful relationship with SABIC Petrochemicals."
Cape provides non-mechanical support services to the energy and mineral resources sector.
Shares were down 1.56% to 220.50p at 10:00 Friday.
RD
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
