Tech firm secures new £2.8m deals

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A Sheffield-based technology firm has announced new contract wins for its controls business worth more than £2.8m.

The Servelec Group has secured four new deals after expanding their operations in the energy markets.

In a statement, the company’s board said: “Against the backdrop of a challenging oil and gas market, impacted by the fall in the dollar price of oil, we are very pleased to announce that Servelec Controls have been selected by one of the UK’s largest energy companies to replace and upgrade a fire and gas detection and emergency shutdown system on an off-shore platform.

“The contract, worth approximately £1m, has a planned project timeline of 18 months. The power and nuclear team has won contracts with three clients totalling approximately £1.8m.”

Alan Stubbs, chief executive officer, added: “I am delighted that the investment we made earlier in the year, to increase focus on the individual power and nuclear and oil and gas markets, is enabling us to capitalise on a long anticipated win in the oil and gas market and increased post-election confidence in the power and nuclear market.

“The contracts have been awarded in a very competitive environment and reflect the strength of Servelec Controls’ track record and customer relationships.

“This increased activity is in line with our expectations and provides confidence for the second half of the year.”

The company recently moved premises from Dinnington into a new 15, 000 sq ft site in Eckington, south of Sheffield.