Hercules Site Services PLC on Tuesday said it has now taken delivery of all ten new suction excavators, expanding its fleet to 30 vehicles.
The Cirencester, England-based, technology-enabled labour supply company for the UK infrastructure sector said it now has ‘one of the largest’ suction excavator fleets in the UK.
The addition of the ten new vehicles took place following high levels of demand, it said, which it believes it will continue to experience.
Hercules Site Services added the new vehicles include two triple fan excavators, which will provide extra capability to Hercules’ clients since the machines are ‘more powerful and dig deeper’ compared to other suction excavators.
‘Suction excavators provide a more efficient and safer way of removing debris for digging teams. When we listed in February 2022, Hercules owned nine suction excavators and the funds raised contributed in part towards a further eleven vehicles, which were ordered in 2021 for delivery by August 2022,’ said Chief Executive Officer Brusk Korkmaz.
‘In April 2022, we took the decision to acquire an additional ten suction excavators, with the intention of expanding our fleet from 20 vehicles by August 2022 to 30 vehicles by March 2023. We took the decision to expand our fleet on the back of the high levels of demand we were experiencing, which saw us achieve an average utilisation rate of circa 85%.
‘This continued demand for our services can be partly attributed to the significant industry acclaim we have received for our involvement in implementing the newly developed ’Zero-Trim’ piles method, which uses a vacuum excavator to suck out excess concrete from a concrete pile while still wet.’
Shares in Hercules Site Services were up 1.3% to 40.00 pence each in London on Tuesday morning.
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