New contract and framework agreement

RNS Number : 6098U

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."

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Enquiries:

Tekmar Group plc James Ritchie, Chief Executive Officer Sue Hurst, Chief Financial Officer	[phone]
Grant Thornton UK LLP (Nominated Adviser) Philip Secrett / Jen Clarke	[phone]
Berenberg (Sole Global Coordinator and Broker) Chris Bowman / Ben Wright / Laure Fine	[phone]
Belvedere Communications (Financial PR) Cat Valentine / Llew Angus	[phone]

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.

 

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