Petards Group PLC Contract Win (3714O)
September 19 2013 - 1:00AM
UK Regulatory
TIDMPEG
RNS Number : 3714O
Petards Group PLC
19 September 2013
19 September 2013
PETARDS GROUP PLC ("Petards" or the "Group")
Contract Win
Petards, the AIM quoted developer of advanced security and
surveillance systems, announces that it has secured a multi-million
euro framework contract with Hitachi Rail Europe Limited (Hitachi)
for Petards to supply Passenger Counting Systems for the Class 800
series trains for the Intercity Express Programme (IEP).
The initial "Call Off" contract is for the Great Western Main
Line, the value of which is in excess of EUR1.1m, will be supplied
over the next 3 years.
Commenting on the award, Petards Chairman Raschid Abdullah
said;
"The board of Petards is delighted to have established a supply
relationship for its products to a new train customer. Hitachi has
demonstrated significant commitment to the UK Rail Sector with its
significant investment in the North East in new train building.
While the majority of the order will not be fulfilled until 2015
and 2016 the longer term nature of orders from new build train
manufacturers provides visibility for future earnings and the
ability to forge enduring relationships with them.
We look forward to working closely with Hitachi in this
important project to provide high speed trains for the Great
Western IEP network and the East Coast IEP network and further to
developing a long term relationship with them".
Contacts:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Tel: 01483 452333
Mb: 07768 905004
WH Ireland Limited www.wh-ireland.co.uk
Mike Coe Tel: 0117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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