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Gresham House Strategic plc

Augean Plc Contract Renewals & New Contract Wins

Augean (LON:AUG), one of the UK’s leading specialist waste management businesses, today announced that it has renewed contracts, with terms of up to four years, with certain of its strategically important customers in Energy from Wasteand North Sea oil and industrial services. These generated over one third of the Group profit in the year ended December 2018.

In addition to contract renewals with existing customers, the Group has recently been awarded new contracts, with terms of up to three years, for ash from several EfW plants across the UK. The annual volume of ash from these new EfW plants is around half of the Group’s existing annual ash volumes. The additional volume from these contracts is expected to impact incrementally from late 2019 through 2020 as these EfW plants are commissioned, with the greater impact expected through 2020 onwards. These wins underpin current market expectations for 2019 and growth during 2020 and beyond.

Finally, the Group is also pleased to announce the signing of a three-year framework agreement with Land & Water Ltd, the market leading specialist for dredging of inland waterways, to preferentially treat and landfill (hazardous) materials arising from their dredging activities, which again underpins current market expectations.

 

Augean was formed in August 2004 and listed on the Alternative Investment Market (AIM). The Group strategy is to build and grow a specialist company competent to deliver extremely high standards of service to our clients underpinned by modern technology led infrastructure and to become the market leader in delivering solutions to difficult to handle waste streams from industrial society. Gresham House Strategic PLC (LON:GHS) has a 12.40% ownership of Augean as of June 2018.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.