Oak Holdings PLC
04 April 2008
Laing O'Rourke says Yes to YES!
4th April 2008
Oak Holdings plc ('Oak' or the 'Company'), the AIM listed company behind the
£350 million YES! Project, announces that it has reached a further milestone in
the project, signing a partnership agreement with Laing O'Rourke, the UK's
largest privately-owned construction company. The agreement provides Oak with a
relationship with a major international building contractor for the provision of
construction services associated with all aspects of the YES! Project. As Oak's
construction partner, Laing O'Rourke will be integrated within the YES project
team at an early stage in order for the project to benefit from their specialist
construction advice and knowledge.
YES!, the leisure-based resort, activity, sports and convention destination, is
scheduled to become the largest covered leisure facility in Europe, following
Oak's announcement on 22 February 2008 that it had agreed project terms with
Rotherham Metropolitan Borough Council. The project, which has planning consent
for nearly 300,000 square metres, sits on 327ha within 1.5km of Junction 31 of
the M1, and is expected to be in operation in 2011.
Chief Executive of Oak Holdings, Steve Lewis said: 'The exciting developments
announced recently are the fruits of four and a half years' labour. We are now
in a position to move the scheme forward with certainty. To secure the services
of Laing O'Rourke, with its exemplary record for delivering high-profile schemes
successfully and on time, is a major achievement for the project. Laing O'Rourke
is one of Europe's foremost construction services groups and it is championing
the partnership approach to major projects. We are very pleased to have them as
our partners.'
Mike Robins, Managing Director for Construction Europe at Laing O'Rourke,
welcomed today's announcement. He said: 'We are delighted to be involved with
such a visionary project. The collaborative and inclusive approach Oak has
adopted in its approach to all its consultants and specialist partners accords
with our ethos, and we are committed to supporting the project.'
Oak recently secured a deal with the Sheffield Steelers ice hockey team to
develop a new state-of-the-art purpose-built arena, the first of its kind in the
UK, and BT has also announced recently its involvement in the project to its
global workforce.
ENDS
For further information, contact:
Oak Holdings Plc: +44(0)20 7493 5522
Steve Lewis Chief Executive Officer
Mike Hill Finance Director
Laing O'Rourke:
Madano Partnership; +44(0)20 7593 4000
This information is provided by RNS
The company news service from the London Stock Exchange