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
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
