Cape wins contract extension with Saudi Basic Industries Corporation

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.

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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