Transfield Services secures A$240 million of work

Transfield Services secures A$240 million of work with existing customers

Transfield Services has secured A$240 million of work by building on its existing relationships with blue chip clients across the Australia and New Zealand region. The Company has announced:

Preferred tender status on a six year A$88 million contract for the delivery of maritime services and asset management with the West Australian Department of Transport. This is the third maritime contract for Transfield Services with the Department over the last 15 years.

A two year A$80 million extension of its existing 14 year relationship with Sydney Water, providing mechanical, electrical and instrumentation maintenance services and an annual major capital renewals program across the greater Sydney metropolitan area

A new five year NZ$64 million contract to maintain 4,000 telecommunications sites nationwide for Chorus in New Zealand, following a prior 10 year relationship performing other field maintenance work.

A new two year contract with Housing New Zealand Corporation for in excess of NZ$30 million, to maintain 7,500 public premises in South Auckland, New Zealand, with an option for another two years, following a prior 10 year relationship. The Company now maintains approximately 100,000 public premises across New Zealand, New South Wales and Western Australia

Transfield Services’ Managing Director and Chief Executive Officer Peter Goode said today:

“These extensions and new contracts exemplify our ability to grow our work with customers, through the delivery of quality services.

“Our capability to build upon existing relationships to broaden the scope of services we provide is what gives us our diversified earnings profile. We benefit by providing a range of services to key sectors with strong growth prospects.”

In addition, the Company has signed a new five year contract with a new client, the New Zealand Police Force to maintain 400 police properties across the North Island of New Zealand.

The Company provides more than 80 per cent of its services under secure, long-term asset management contracts, and has renewal rates in excess of 95 per cent.

It has a robust pipeline of work developing in power, defence, transport and social infrastructure, providing continuing diversification for the business.

ENDS

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