Petards Group PLC Contract wins (0004K)
04 July 2017 - 4:00PM
UK Regulatory
TIDMPEG
RNS Number : 0004K
Petards Group PLC
04 July 2017
PETARDS GROUP PLC ("Petards" or the "Group")
Contract Wins
Petards, the AIM quoted developer of advanced security systems
is pleased to announce that it has been awarded two significant
contracts totalling GBP1.5 million in value.
The Ministry of Defence (MOD) has awarded the company a contract
for GBP1.0 million for the delivery of an Emulator that will enable
Petards ALE-47 Threat Adaptive Countermeasures Dispenser System
(TACDS) to be used more effectively, thereby enhancing the
survivability of aircraft and crew. The ALE-47 TACDS equipment is
installed on the UK's large transport aircraft including
rotorcraft/helicopters. Deliveries on the project to our customer
are due to commence during the second half of 2017 with a
completion date of mid 2018.
The Company has also been awarded a contract by Leonardo MW
(previously Agusta-Westland) for GBP0.5 million for the continuing
upgrade of the Merlin Mk.4 under its Merlin Life Sustainment
Programme. The contract award is the third consecutive contact
award to Petards for the supply of ALE-47 TACDS Equipment and is
scheduled for delivery during the first half of 2018.
The board is also pleased to announce that the MOD has exercised
its option to extend by one year to September 2018 the Group's
existing enabling contract to supply it with private mobile radio
equipment, ancillaries and engineering services.
The contract, whose annual revenues are anticipated to be in
excess of GBP0.5 million, uses Petards' design engineering skills
to identify and supply solutions to complex military communications
requirements.
END
Contacts:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
Tel: 01483 230335
WH Ireland Limited, Nomad www.whirelandplc.com
and Joint Broker
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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