Share Name Share Symbol Market Type Share ISIN Share Description
Tg21 Plc LSE:TGP London Ordinary Share GB00BDFGGK53 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 157.50p 155.00p 160.00p 157.50p 157.50p 157.50p 470 07:30:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 12.2 -0.8 -0.9 - 78.75

Tekmar Group PLC New contract and framework agreement

13/07/2018 11:32am

RNS Non-Regulatory


TIDMTGP

Tekmar Group PLC

13 July 2018

RNS Reach

For immediate release: 13 July 2018

Tekmar Group plc

("Tekmar" or the "Company")

Ørsted selectes Tekmar Energy for Borssele I&II along with a 6 year framework

Tekmar Group plc, a market-leading technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services, is pleased to announce that Ørsted (formerly DONG Energy) has selected the Company's patented Cable Protection System (or CPS) TekLink Mechanical Latch for it Borssele I&II Offshore Wind Farm Projects.

Alongside this recent win, Tekmar is also pleased to announce that it has successfully won a place on Ørsted's 6-year framework for providing Cable Protection Systems on Ørsted's future projects.

Borssele I&II, a 752MW project that will go into construction off the coast of The Netherlands in 2020, is important as it is one of the first projects to start a trend of significant price reductions within the Offshore Windfarm Industry.

James Ritchie, CEO of Tekmar, said:

"We could not be more pleased that Ørsted has chosen Tekmar not only for the Borssele I&II project but also to be part of the framework going forward. This supports our vision to be our customers' partner of choice and will drive us to innovate to support in cost and risk reduction for this project and the next generation of offshore wind farms."

-ends-

Enquiries:

 
 Tekmar Group plc 
  James Ritchie, Chief Executive Officer      +44 (0)1325 379 
  Sue Hurst, Chief Financial Officer           520 
 Grant Thornton UK LLP (Nominated Adviser)    +44 (0)20 7383 
  Philip Secrett / Jen Clarke                  5100 
 Berenberg (Sole Global Coordinator and 
  Broker)                                     +44 (0)20 3207 
  Chris Bowman / Ben Wright / Laure Fine       7800 
 Belvedere Communications (Financial PR)      +44 (0) 20 3567 
  Cat Valentine / Llew Angus                   0515 
 

About Tekmar Group plc - www.tekmar.co.uk

Tekmar Group plc is a market-leading technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services.

It operates two primary divisions: the Offshore Wind Farm division, which focuses on the provision of subsea protection for power transmission cables from and between offshore wind turbines, and the Subsea division which focuses primarily on the provision of subsea protection for umbilicals and flexible pipes to the oil and gas market. Both divisions are supported by AgileTek which provides subsea analysis, simulation and engineering consultancy services.

The Group is headquartered in Newton Aycliffe in the United Kingdom in a 70,000 sq ft facility that includes the manufacturing centre, HSQE centre and business administration, and a 30,000 sq ft facility that includes product testing, client-training centre and the sales, project and engineering offices. AgileTek operates from an office in London and has offices supporting its Offshore Wind Farm division in Hamburg (Germany) and Shanghai (China). Tekmar has appointed sales agents in Busan (South Korea) and Boston (United States) for the Offshore Wind Farm division and in Singapore and Abu Dhabi (United Arab Emirates) for the Subsea division.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

NRAFKNDBKBKDOOD

(END) Dow Jones Newswires

July 13, 2018 06:32 ET (10:32 GMT)

1 Year Tg21 Chart

1 Year Tg21 Chart

1 Month Tg21 Chart

1 Month Tg21 Chart
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:31 V:gb D:20180719 20:49:40