Petards Group PLC Contract Award (4716A)
12 September 2018 - 4:00PM
UK Regulatory
TIDMPEG
RNS Number : 4716A
Petards Group PLC
12 September 2018
PETARDS GROUP PLC ("Petards" or the "Group")
Contract Win
Petards, the AIM quoted software developer of advanced security
and surveillance systems, announces that it has been awarded
another contract to supply Siemens Mobility GmbH ("Siemens") with
Petards eyeTrain systems.
The contract under the Siemens Framework agreement is for an
additional order that Siemens has won to manufacture and deliver
ten Velaro high-speed train vehicles to the Turkish State Railway
("TCDD"). The Petards equipment to be supplied will provide CCTV
coverage of the internal saloon areas, the drivers cab as well as
"day/night" track monitoring and provide the trains with a Driver
Control Operation (DCO) capability.
This new contract, which is worth over GBP1.1 million is split
in the non-optional part (GBP0.77 million), optional part (GBP0.34
million) will see equipment deliveries starting in January 2019,
and it is expected that the project will be completed in 2020.
Commenting, Petards Chairman Raschid Abdullah said;
"We are delighted that Petards has again been selected by
Siemens to work on their second contract with the Turkish State
Railway. This new order comes only a week ahead of Petards
exhibiting at InnoTrans 2018 in Berlin, the world's leading Rail
exhibition. It will add to our already significant installed base
and strengthens our position as a leader of on train video and data
solutions. Additionally it further bolsters the Group's order book
for delivery in 2019 and 2020."
Contacts:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
WH Ireland Limited, Nomad and www.wh-ireland.co.uk
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
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END
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