Petards Group PLC Contract Award (4716A)

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RNS Number : 4716A

Petards Group PLC

12 September 2018

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 another contract to supply Siemens Mobility GmbH ("Siemens") with Petards eyeTrain systems.

The contract under the Siemens Framework agreement is for an additional order that Siemens has won to manufacture and deliver ten Velaro high-speed train vehicles to the Turkish State Railway ("TCDD"). The Petards equipment to be supplied will provide CCTV coverage of the internal saloon areas, the drivers cab as well as "day/night" track monitoring and provide the trains with a Driver Control Operation (DCO) capability.

This new contract, which is worth over GBP1.1 million is split in the non-optional part (GBP0.77 million), optional part (GBP0.34 million) will see equipment deliveries starting in January 2019, and it is expected that the project will be completed in 2020.

Commenting, Petards Chairman Raschid Abdullah said;

"We are delighted that Petards has again been selected by Siemens to work on their second contract with the Turkish State Railway. This new order comes only a week ahead of Petards exhibiting at InnoTrans 2018 in Berlin, the world's leading Rail exhibition. It will add to our already significant installed base and strengthens our position as a leader of on train video and data solutions. Additionally it further bolsters the Group's order book for delivery in 2019 and 2020."

Contacts:

 
 Petards Group plc               www.petards.com 
 Raschid Abdullah, Chairman      Mb: 07768 905 004 
 
 
 WH Ireland Limited, Nomad and   www.wh-ireland.co.uk 
  Joint Broker 
 Mike Coe / Ed Allsopp           Tel: [phone] 
 
 Hybridan LLP, Joint Broker      www.hybridan.com 
 Claire Louise Noyce             Tel: [phone] 
                                  [e-mail] 
 

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September 12, 2018 02:00 ET (06:00 GMT)