Kier Group Gets 2 Islington Council Contracts Worth GBP22M/Yr

24th Jun 2010 11:35

LONDON (Dow Jones)--Kier Group PLC (KIE.LN), a construction, development and service group, said Thursday it has been awarded two contracts, worth up to GBP22 million a year, for Homes for Islington, the arms length management organization for Islington Council. MAIN FACTS: -The contracts, to repair and maintain 29,500 properties in the Borough, were won in competitive tender. -Contract 1 comprises housing repairs, voids and adaptations across the Borough with an indicative annual value of between GBP14 million and GBP20 million. -Contract 2 is for the gas servicing repairs, replacements and upgrades in the north of the Borough with an indicative annual value of between GBP1 million and GBP2 million. -The four-year contracts which, subject to performance, are extendable for up to ten, will assume operations from Oct. 30, 2010. -Shares at 1030 GMT up 4 pence, or 0.4%, at 1019 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires June 24, 2010 06:35 ET (10:35 GMT)