1 October 2020

SRG Global Secures Long-Term Refractory & Access Contracts with South32, valued at ~$125m

Highlights:

  • New eight-year ~$100m contract with South32 for specialist Refractory Services
  • Two-year~$25m extension on existing six-year engineered Access Services contract
  • Continuing to deliver on SRG Global strategy of transitioning business mix towards annuity/recurring earnings

SRG Global Ltd ('SRG Global' or 'the Company') (ASX: SRG) is pleased to announce it has secured a long-term ~$100m contract with South32 Worsley Alumina ('South32') to provide specialist Refractory Services, including gunning and casting and installation of refractory products and anchors. Works under the contract will commence in October 2020 with a duration of eight years.

South32 has also extended SRG Global's existing engineered Access Services contract for a further two years. The contract extension is valued at ~$25m and will see SRG Global continue to provide access services at South32's Worsley Alumina operations until mid-2027.

David Macgeorge, Managing Director, commented: "These contracts are a terrific achievement for SRG Global and we are excited to be expanding our partnership with South32 to continue to deliver long-term value for their Worsley operations.

"This continues our focus on cross-selling our diverse capability to add value to key clients and our strategy of transitioning the earnings profile of the business to annuity style Asset Services contracts."

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About SRG Global

SRG Global is an engineering-led specialist asset services, mining services and construction group operating across the entire asset lifecycle of engineer, construct and sustain. The Company operates three segments of Asset Services, Mining Services and Construction. For more information about the variety of services offered by SRG Global, click here.

This announcement was authorised for release to ASX by the Managing Director.

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SRG Globa Limited published this content on 30 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2020 22:54:01 UTC