UGL scores $190M BP Australia contract

Company News

Engineering company UGL Limited (ASX:UGL) has scored a $190 million operations and maintenance contract with BP Australia. 
 
Under the new three year deal UGL will work on BP Australia’s 17 fuel terminals across Australia through an incorporated 50:50 joint venture.  
 
UGL CEO Ross Taylor has described the deal as strategically significant for the company.
 
Combined with recent contract wins in LNG maintenance Mr Taylor believes UGL is well positioned to deliver solid growth in the 2016 financial year. 
 
UGL reported a net loss of $120.83 million in the first half of the 2015 financial year.