Tekmar Group PLC Pipeshield secures largest contract win to date (0600L)
08 January 2021 - 8:31PM
UK Regulatory
TIDMTGP
RNS Number : 0600L
Tekmar Group PLC
08 January 2021
8 January 2021
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
TEKMAR GROUP PLC
("Tekmar Group" or the "Group")
PIPESHIELD SECURES LARGEST CONTRACT WIN TO DATE
Tekmar Group (AIM: TGP), a leading provider of technology and
services for the global offshore energy markets, is pleased to
announce that Pipeshield International Limited ("Pipeshield") has
secured its largest contract win to date, to design, engineer, and
manufacture a subsea scour protection solution for a major quay
development project.
The contract, valued in excess of GBP4 million, is for execution
and revenue recognition in the current financial year ending 30
September 2021 ("FY21").
Enquiries:
Tekmar Group plc
Alasdair MacDonald, CEO
Sue Hurst, CFO +44 (0)1325 379 520
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Jamie Barklem +44 (0)20 7383 5100
Berenberg (Joint Broker)
Chris Bowman / Ben Wright / Richard Salmond +44 (0)20 3207 7800
N+1 Singer (Joint Broker)
Rick Thompson / Rachel Hayes +44 (0)20 7496 3000
Belvedere Communications (Financial PR)
Cat Valentine +44 (0) 7715 769 078
Keeley Clarke +44 (0) 7967 816 525
tekmarpr@belvederepr.com
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.
Subscribe to further news from around the Group at Group
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