Speedy Hire bags £30m contracts

Speedy Hire, the UK tool and equipment provider, has secured a contracts with BT and Tube Lines, and extended existing contracts with ExxonMobil and Osborne, it was announced today.

The contract with BT, to supply mobile generators to support 6,000 telephone exchanges, will run for one year with an option to extend. The contract secured with Tube Lines, will make the provider a sole supplier with the rail company: who are currently upgrading three London tube lines.

Speedy Hire also renewed its contracts with ExxonMobil and Osborne. ExxonMobil extended its five-year preferred supplier agreement with the provider by three years.

The contract is for the provision of managed services including rental equipment, maintenance and planning to the Exxonmobil refinery at Fawley, Southampton. Speedy Hire’s contract with Osborne has been extended until 2013, after the provider renewed its preferred supplier agreement for a further three years.

Steve Corcoran, chief executive of Speedy Hire, said: “These contracts together are anticipated to provide an overall revenue in excess of £30m, with an annual value in the first year of £9m.”