Petards Group PLC Contract Win (8066A)

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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: [phone] 
 
 Hybridan LLP, Joint Broker             www.hybridan.com 
 Claire Louise Noyce                  Tel: [phone] 
                               [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 29, 2017 02:00 ET (06:00 GMT)