Pentagon Protection PLC
10 June 2005
For Release 7.00am 10 June 2005
PENTAGON PROTECTION PLC
OVERSEAS CONTRACT GAINS WITH MULTINATIONALS
Pentagon Protection Plc ('Pentagon'), the provider of safety and security
products for commercial, architectural and automotive glass, announces that it
has been appointed preferred supplier by Schlumberger Global Oilfield Logistics
and Distribution ('Schlumberger') in 25 countries in the Middle East and Asia,
and also announces that its Pentagon Filmtek division has won two initial
contracts worth a total of £280,000 from Schlumberger and Shell Exploration in
the Middle East to protect the glass of their office buildings, using its
patented FT800 bomb blast film and anchoring system.
The larger project for Schlumberger, worth a minimum value of £250,000, is for
an office project in Dubai, and commences next week.
Pentagon hope to extend their services to Schlumberger to two other geographical
regions, namely North and South America and Europe and Africa.
The contract for Shell Exploration is at an unspecified building in the Middle
East, to protect client confidentiality, and Pentagon is currently surveying the
company's other locations throughout the Middle East and Africa.
Both contract gains will impact the last quarter of Pentagon's final results for
the year ended 30 September 2005.
Graham Bannerman, Chief Executive of Pentagon said:
'These prestigious contracts affirm our strategy of securing preferred status
from multinational blue chip companies, having targeted the Middle East as a
prime area of growth, as stated in our Chairman's Statement of 17 December
2004.'
He added:
'The gestation period of securing these contracts has taken longer than expected
but, longer term, could lead to further business from these multinational
organisations. These contract gains go some way to mitigating the greater than
expected losses generated in the first half of the current financial year
indicated in our Trading Statement of 29 March 2005, and signals the correctness
of our strategy to focus on global clients. It points to a recovery in our
results in the second half of the current financial year ended 30 September
2005, as Pentagon's transition to a more global business moves apace.'
ENDS
For further information, please contact:
Pentagon Protection Plc
Graham Bannerman, Chief Executive 020 8749 9749
David Thomas, Chairman 020 8749 9749
Binns & Co PR Ltd
Hannah Sloane 020 7153 1480;
07855 084 713
This information is provided by RNS
The company news service from the London Stock Exchange
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