05/06/2013 - 13:52

GCS announces Woodside scaffolding win

05/06/2013 - 13:52

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Global Construction Services has won a new contract to provide all of the onshore and offshore scaffolding works for Woodside Petroleum’s North West Shelf project.

The contract has an initial three-year term and will see GCS supply, maintain, store, transport and handle all scaffolding equipment required for the North West Shelf development.

Other commercial terms of the agreement were not disclosed.

GCS subsidiary GCS Industrial Services will undertake the works.

“We are pleased this contract has been awarded to an Australian company committed to the oil and gas sector and committed to using local content on its key contracts,” managing director Enzo Gullotti said.

“This contract represents an important step in GCS building long-term annuity revenue streams in maintenance services across the project life cycle and demonstrates recognition of GCS’ ability to complement its integrated service solutions to customers in this sector.”

The deal is expected to be a significant boost for GCS, which downgraded its earnings expectations for financial year 2013 midway through last month.

GCS said it was expecting to turn in an underlying profit of between $20 million and $23 million for the second half of FY2013.

AT 1:45PM, WST, GCS shares were up 8.6 per cent, trading at 44 cents. 

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