Quadrant Group Plc - Jt Venture Co-Prefered Bidder
10 November 1999 - 10:01PM
UK Regulatory
RNS Number:5754A
Quadrant Group PLC
10 November 1999
Ministry of Defence E3D Sentry PFI Contract
Quadrant Group plc ("Quadrant") announces that a special joint
venture company ("SPV"), of which Quadrant owns 50%, has won
selection as the Preferred Bidder for a Private Finance
Initiative contract to be awarded by the UK Ministry of
defence for the provision of pilot training for the RAF's
Boeing E3D Sentry aircraft for a minimum of 25 years.
If the selection proceeds to a firm contract, signature is
anticipated to be around April 2000. Such a contract would be
expected to generate approximately #50 million of revenues for
the SPV over the full 30 year contract life.
In addition, if and when the contract is finalised, the SPV
will place short term orders worth in the region of #1.75
million with Quadrant's subsidiary Systems Limited, for
updating the RAF's current E3D full fight simulator.
Quadrant's 50% partner in the SPV is Evans & Sutherland
Computer Corporation, the world's leading provider of flight
simulator visual systems.
For further information, please contact
David Coghlan, Chief Executive of Quadrant Group plc - 01527 850 080, or
Jeff Sandiford, Chairman of Quadrant Systems Limited - 01444 246 226
END
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