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Tekmar Group PLC
03 September 2020
REACH
3 September 2020
TEKMAR GROUP PLC
("Tekmar Group" or "the Group")
RECENT CONTRACT AWARDS
Tekmar Group, a leading provider of technology and services for
the global offshore energy markets, is pleased to provide a summary
on recent progress.
The Group has secured a number of contracts with an aggregate
value of over GBP6.0m due to be delivered in FY21. These contracts
which are detailed below, show the progress being made by the Group
in increasing the number of collaborative projects its businesses
are working on, increasing new market opportunities, and its
continued expansion into the Asia Pacific region, areas which were
highlighted in this year's annual report as a focus for the Group
in the current year.
Collaborative projects
During August, Tekmar Energy and Pipeshield International won
multiple contracts to supply subsea asset protection and
stabilisation technologies to energy companies and tier one
contractors for a major offshore oil and gas project in Saudi
Arabia. The two companies, operating together under the Tekmar
Group umbrella, combined their capabilities to design, engineer,
manufacture and supply over 6,000 metres of TekDuct, over 3,000
ballast modules, 300 bespoke concrete mattresses, vertical
restrictors and centralisers for the protection and stabilisation
of subsea pipelines, umbilicals and power cables.
These recent project awards demonstrate the benefits of the
Group's expansion strategy in the Middle East, where Tekmar Group
aims to become a leading provider of subsea technologies and
services for offshore energy projects in the region.
New market opportunities
Subsea Innovation has been awarded a contract to develop and
deliver novel operation and maintenance ("O&M") solutions for
an offshore wind farm in the UK, including an OPEX cable repair
solution, scour protection and marine growth cleaning equipment.
This is the thirteenth project for Subsea Innovation in the
offshore wind market, as it looks to expand its offering from
beyond its traditional oil and gas market.
Pipeshield International has secured several contracts to supply
asset and scour protection solutions to the marine civils sector,
including a ferry terminal upgrade project in the North East of
Scotland, beach access works on the East coast of England and
specialist scour protection to the river bed and banks of the River
Tay in Dundee. Pipeshield International is continuing to see
increasing demand for its marine civils products and services
throughout Europe.
Expansion into Asia Pacific
Building on the significant expansion into this region during
FY20, Tekmar Energy was awarded its first major contact in Japan in
late July, to supply the Group's patented TekLink product for the
Akita and Noshiro offshore wind farms, which are set to be the
first utility-scale offshore wind projects in Japan. The contract
strengthens the Group's position in the country, which has
ambitious targets for offshore wind.
In China, where Tekmar Energy is already fulfilling contracts
through its regional office, the Group has been awarded a contract
to supply cable protection systems for a major offshore windfarm
project in the Jiangsu province on the East coast of China.
Commenting on these recent wins for Tekmar, the Group's
Executive Chairman, Alasdair MacDonald, said:
"These recent contract awards help underpin our overall
confidence in the Group's prospects, which we expressed in our full
year results announcement in August. Our success in securing
project wins through the collaboration of our Group businesses
shows how much the business is benefitting from its diversification
into complementary technologies and being able to offer our
international customers a unique customer-value proposition."
Enquiries:
Tekmar Group plc
Alasdair Macdonald, Executive Chairman
Sue Hurst, Chief Financial Officer +44 (0)1325 379 520
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Jen Clarke +44 (0)20 7383 5100
Berenberg (Broker)
Chris Bowman / Ben Wright / Richard Salmond +44 (0)20 3207 7800
Belvedere Communications (Financial PR) TekmarPR@belvederepr.com
Cat Valentine +44 (0) 7715 769 078
Keeley Clarke +44 (0) 7967 816 525
About Tekmar Group plc - www.tekmargroup.com
Tekmar Group plc's vision is to be the leading provider of
technology and services for the global offshore energy markets. The
Group has five primary operating companies; these are Tekmar Energy
Limited, Subsea Innovation Limited, AgileTek Engineering Limited,
Ryder Geotechnical Limited and Pipeshield International
limited.
Tekmar Energy is a global market leader in protection systems
for subsea cable, umbilical and flexible pipe. Tekmar Energy has
been trusted to protect billions of Euros worth of assets in the
offshore wind, oil & gas, wave, tidal and interconnector
markets since 1985.
Subsea Innovation is a global leader in the design, manufacture
and supply of complex engineered equipment and technology used in
the offshore energy market. Its products include large equipment
handling systems which operate on the back of pipelay installation
vessels; emergency pipeline repair clamps (EPRC) which protect
major oil and gas pipelines, and bespoke equipment for use in the
construction of offshore energy projects.
AgileTek Engineering is an award-winning subsea engineering
consultancy for offshore energy projects. AgileTek helps its
clients de-risk projects through advanced computer simulation and
analysis. AgileDat, a division of AgileTek, provides software
development, cloud architecture and data analytics services.
Ryder Geotechnical provides expert geotechnical design and
consulting services to the offshore wind and subsea oil and gas
sectors. Services include offshore structure foundation design,
geohazard assessment and subsea cable routing and burial
assessment.
Pipeshield International is a market leading provider of
specialised subsea protection solutions in the form of concrete
mattresses used for the stabilisation and impact protection of
subsea equipment in areas where they cannot be buried and further
to limit the development of scour (seabed erosion) particularly
local to that of a foundation, pipeline or in marine ports.
Tekmar Energy and Tekmar Group plc is headquartered in Newton
Aycliffe in the United Kingdom; AgileTek operates from an office in
London; Subsea Innovation has its head office and manufacturing
centre in Darlington, United Kingdom. Ryder operates in Newcastle
and within AgileTek London, Pipeshield headquarters are in
Lowestoft with manufacturing in Montrose and Blyth. Tekmar Group
plc also has strategic supply bases and representation across
Europe, Africa, the Middle East and Asia Pacific.
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