Contract Win

RNS Number : 0371M

Petards Group PLC

10 October 2016

 

10 October 2016

 

 

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 Great Western Railway with Petards eyeTrain systems.

The new contract, which is worth approximately £6 million, is for the design, development, supply and installation of eyeTrain systems to be fitted to Class 165 and 166 Diesel Multiple Units ("DMU") trains.  The developed systems add substantial new software driven functionality to Petards' existing eyeTrain solutions.  Engineering development is already underway and will make a contribution to 2016 revenues.  This is expected to be completed by the third quarter of 2017 when deliveries of the integrated systems will commence with scheduled completion by the end of 2018.

Commenting, Petards Chairman Raschid Abdullah said: "We are delighted that Petards has been selected by Great Western Railway to work with them on this exciting project which further enhances our position in the rail industry and significantly strengthens the Group's present order book for delivery in 2017 and 2018."

Contacts:

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

 

END

 

 

CNTEASEXEEXKFFF