Petards Group PLC Contract (6298S)
22 December 2016 - 11:00PM
UK Regulatory
TIDMPEG
RNS Number : 6298S
Petards Group PLC
22 December 2016
PETARDS GROUP PLC ("Petards" or the "Group")
MOD Contract Renewal
Petards, the AIM quoted software developer of advanced security
and surveillance systems, announces that it has secured a 3 year
contract renewal from the Air Platform Systems Platform Protection
team, part of the UK Ministry of Defence, worth in excess of
GBP1.6m for the support of ALE 47 and M147 Threat Adaptive
Countermeasures Dispensing Systems which are fitted to Lynx, Puma,
Chinook, Merlin, and C130J aircraft platforms.
The contract is effective from 1 January 2017 and runs until 31
December 2019 with an option, which if exercised, would extend the
contract for a further two years until 31 December 2021.
Under the terms of the contract Petards will continue to perform
Post Design Services, with additional engineering, repair,
refurbishment and manufacturing which are expected to significantly
enhance the value of the agreement.
Commenting on the award, Petards Chairman Raschid Abdullah
said;
"Having provided these services to the Ministry of Defence for
many years it is pleasing they have renewed the contract at
increased scope and value for a further three years while
maintaining the option to extend for a further two."
Contacts:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
WH Ireland Limited, Nomad and Joint Broker www.wh-ireland.co.uk
Mike Coe / Ed Allsopp Tel: 0117 945 3470
Hybridan LLP, Joint Broker www.hybridan.com
Claire Louise Noyce Tel: 020 3764 2341
Claire.noyce@hybridan.com
Notes
Petards is a global supplier of products to original equipment
manufacturers ('OEMs'), system integrators and end users in the
rail, security and defence markets in new build, refurbishment and
retrofit applications. The Company delivers ruggedised electronic
solutions including video and sensor data surveillance, radio
communications and threat simulation systems on mobile platforms.
Petards offers a range of services, supporting its own and third
party systems, spanning custom development, manufacturing,
commissioning, maintenance and obsolescence management. Further
information on its three product areas is included below:
Transport
Petards' market-leading eyeTrain technology provides leading
edge products for on-board train video and sensing solutions,
including Driver Only Operation Systems, Passenger Counting
Systems, Saloon and Drivers View Video and Condition Based
Monitoring. These systems have been chosen for installation on
thousands of rail vehicles around the globe, helping to reduce
operating costs, increase safety and improve passenger
satisfaction.
Emergency Services
Petards' ProVida is one of the world's leading in-car police
speed detection, surveillance and ANPR (Automatic Number Plate
Recognition) brands, comprising four components: In-Car Video,
Speed Enforcement, ANPR Systems and ANPR cameras. Fixed site,
mobile, re-deployable and hand-held ANPR systems together with the
integrating software, are also offered by the Petards subsidiary
QRO Solutions enabling coverage across many of the UK's police
forces. The Provida brand has also stretched to over 20
countries.
Defence
Petards provide a range of specialist engineering services to
the defence sector. The Company has established a strong reputation
for being a responsive, flexible and reliable partner in delivering
challenging military programmes. Petards excels in the disciplines
of Communications and Information Systems, Electronic
Countermeasure Systems, Ruggedised Electronic Control Systems and
in the provision of Engineering Services to UK MoD and other NATO
countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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