Contract Win (3365U)

TIDMOPE

RNS Number : 3365U

Optare PLC

20 December 2011

Optare plc

("Optare" or the "Company")

Contract Win

Optare is pleased to confirm that it has signed a contract worth up to GBP18 million under which it will supply 190 of its Solo SR midibus model to the City of Cape Town.

Optare won the business through a comprehensive competitive tendering process involving a number of global bus makers. Central to Optare's success was the support provided by Ashok Leyland and the partnership forged with South Africa's leading bus assembler Busmark 2000, who will produce the buses at a new plant in Cape Town from kits of components and sub assemblies supplied by Optare.

Optare Chief Executive, Jim Sumner, said: "I am delighted that our focussed efforts on growing our overseas business continue to yield results, in this case with the award of a very significant contract from one of the world's most exciting cities. We look forward to building on this contract to supply further vehicles into this important market and to show that with our new state-of-the-art facilities at Sherburn in Elmet, Yorkshire and the significant support of our strategic partner Ashok Leyland, that we can meet demand for fleet volumes of buses at an internationally competitive cost both at home and abroad."

For further information:

   Optare plc                      Tel: [phone] 

Jim Sumner - Chief Executive

   Cenkos Securities plc        Tel: [phone] 

Stephen Keys/Camilla Hume

This information is provided by RNS

The company news service from the London Stock Exchange

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