Petards Group PLC Contract Win (8066A)
March 29 2017 - 1:00AM
UK Regulatory
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RNS Number : 8066A
Petards Group PLC
29 March 2017
29 March 2017
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 a
contract to supply Stadler Bussnang AG ("Stadler") with its
eyeTrain CCTV and Automatic Selective Door Opening ("ASDO")
systems.
The new contract, which is worth GBP4.3 million, is for the
design, development and supply of CCTV and ASDO systems integrated
into Stadler's FLIRT(UK) trains. Engineering activities will
commence immediately with the first equipment deliveries starting
in June 2017 and is expected that the project will be completed
during Q2 2019.
The equipment will provide the trains and the driver with
enhanced capability in the areas of security and surveillance
through CCTV coverage of both the internal and external of saloon
areas combined with pantograph, forward facing and track debris
monitoring systems integrated with our video management software.
Additionally the ASDO system delivers improved passenger operations
at stations where the platforms are shorter than the trains.
Commenting, Petards Chairman Raschid Abdullah said: "We are
delighted that Petards eyeTrain CCTV and ASDO systems have been
selected by Stadler for their first UK Mainline Rolling stock
contract.
"This new contract provides Petards with another exciting rail
project with a new customer, which significantly enhances its
position as a leading provider of security and surveillance systems
to the UK Rail industry and considerably adding to the Group's
present order book for delivery over the next three years.
"We welcome Stadler as a new customer of Petards with the
integration onto their FLIRT platform. We are all thrilled about
the potential of this new partnership with Stadler, a long
established world leading train builder."
About the Stadler Rail Group
Established 75 years ago, headquartered in Bussnang, Switzerland
and operating globally with 7,000 employees in 18 countries,
Stadler is a system provider of train manufacturing and maintenance
services. Stadler's range of products is comprehensive. It includes
high speed trains, intercity, regional and commuter trains, trams,
tram-trains and underground trains. Stadler manufactures dual mode
locomotives, shunting locomotives and passenger carriages, and
offers the most powerful diesel-electric locomotive in Europe. It
remains the world's leading manufacturer of rack and pinion rail
vehicles. Stadler's service division maintains vehicle fleets in 16
countries.
In the UK, Stadler's Variobahn trams operate on the London
Tramlink. Its Class 68 diesel locomotive is the most powerful to
run in the UK, and the Class 88 dual mode locomotives are used on
freight and passenger services. It has recently been awarded a
contract to build electric and bi-mode multiple units for the new
East Anglia franchise, part of the largest ever rolling stock
procurement in the history of the UK, and is providing the vehicles
for the Sheffield tram-train, the first of its kind in the UK. It
is also part of the consortium supplying a new fleet of trains for
the Glasgow Subway.
Contacts:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
WH Ireland Limited, Nomad www.whirelandplc.com
and 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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