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SBD Global/December 17, 2013/Finance

British Firm Aggreko Wins 2014 World Cup, Commonwealth Games Power Contracts

British power supplier Aggreko "has won contracts to supply power" at the 2014 World Cup in Brazil and the 2014 Commonwealth Games in Glasgow, "following a challenging period" for the company, according to Angela Monaghan of the London GUARDIAN. Shares in Aggreko rose 5.8%, "making it the biggest FTSE 100 riser on Monday morning." The contracts "are a welcome boost for the company, which faced a weakened outlook at the end of last year," when the end of its 2012 London Olympics contract "coincided with declining military work and doubts over contract extensions in Japan, prompting two profit warnings in two months" (GUARDIAN, 12/16). INSIDE WORLD FOOTBALL's David Owen reported the move is expected to save about $20M in running costs for the 12 World Cup host cities. Under the deal, Aggreko, which has "wide experience of working on major events," will "provide temporary broadcast power solutions" for 2014 World Cup stadiums, "as well as the international broadcast centre in Rio de Janeiro." FIFA TV Dir Niclas Ericson said he was "delighted" that Aggreko had joined the operational lineup. Ericson said that "reliable and consistent broadcast power provided by temporary infrastructure was 'essential' to ensure that the images from the 12 stadiums are transmitted to 200-plus countries and territories worldwide." The deal was "of huge importance" since it not only ensured "the successful delivery of the TV images, but will also result in a significant reduction in operational investments for all 12 host-cities" (INSIDE WORLD FOOTBALL, 12/16).
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