$30M Preferred Contratcor Status Secured For QEII MC Car Park Project

05 September 2011

Highlights:

• $30m preferred contractor status with Probuild
• Contract Start September 2011 for an approximate duration of 2 years

Construction services group Global Construction Services Limited (ASX: GCS, “GCS Group”) is delighted to announce being awarded preferred contractor status for a major formwork and concrete contract by Probuild Constructions (Aust) Pty Ltd (Probuild), for the Capella Car Park Unit Trust on the Western Australian Department of Health QEII MC Car Park Project.

The contract valued at $30 million has been awarded to CASC, GCS Group’s formwork division.

Under the terms of the contract, CASC will provide formwork and concrete installation for the project over a period of approximately 2 years, commencing in September 2011.

GCS Group Managing Director Mr Enzo Gullotti said “The contract represents a major boost for GCS and the CASC business.”

“We’re delighted to have been successful in our bid to Probuild on a significant Government infrastructure project in Western Australia” said Mr Gullotti.

“Revenue will be booked in the next two financial years, providing GCS with a solid platform for continued growth.”

The QEII MC Car Park Project includes the construction of a seven storey multi­deck car park on the corner of Aberdare and Winthrop, delivering more than 3,000 car bays.

Construction on the multi­deck car park will begin in September 2011 and will be opened progressively from late 2012.

GCS has recently reported a 70% increase in NPAT to $19.4million for the financial year ended 30 June 2011.

The result was driven by strong performance by a number of the group’s businesses and the achievement of key milestones on major projects.

GCS continues to tender significant contract opportunities in the Commercial, Resource and Industrial sectors, taking advantage of in excess of $100 billion of committed Resources and Infrastructure projects in Western Australia alone.