New Contract Award

RNS Number : 6725M

Tekmar Group PLC

25 May 2022

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

TEKMAR GROUP PLC

("Tekmar Group", "Tekmar" or the "Group")

NEW CONTRACT AWARD

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, is pleased to announce the award of a significant new contract to provide an integrated engineering solution, including Cable Protection Systems ("CPS"), for an offshore wind farm project in the US. The contract is expected to be delivered in 2023.

Alasdair MacDonald, CEO of Tekmar Group, said : " This landmark contract award strengthens our position in the US offshore wind market and represents an important milestone in expanding our geographical presence, a key driver of our growth strategy. The contract builds on our encouraging recent contract momentum, including the Dogger Bank Wind Farm, and highlights Tekmar's range of in-house engineering capabilities to address complex engineering challenges and de-risk cable protection projects. We look forward to delivering on our part of this project. "

Enquiries:

Tekmar Group plc Alasdair MacDonald, CEO Derek Bulmer, CFO	[phone]
Singer Capital Markets (Nominated Adviser and Joint Broker) Rick Thompson / Rachel Hayes	[phone]
Berenberg (Joint Broker) Chris Bowman / Ben Wright / Ciaran Walsh	[phone]
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery	[phone]

The person responsible for arranging the release of this announcement on behalf of the Company is Derek Bulmer, Chief Financial Officer.

About Tekmar Group plc  -  www.tekmargroup.com

Tekmar Group plc (LON:TGP) collaborates with its partners to deliver robust and sustainable engineering led solutions that enable the world's energy transition.

Through our Offshore Energy and Marine Civils Divisions we provide a range of engineering services and technologies to support and protect offshore wind farms and other offshore energy assets and marine infrastructure. With near 40 years of experience, we optimise and de-risk projects, solve customers' engineering challenges, improve safety and lower project costs. Our capabilities include geotechnical design and analysis, simulation and engineering analysis, bespoke equipment design and build, subsea protection technology and subsea stability technology. 

We have a clear strategy focused on strengthening Tekmar's value proposition as an engineering solutions-led business which offers integrated and differentiated technology, services and products to our global customer base.

Headquartered in Darlington, UK, Tekmar Group has an extensive global reach with offices, manufacturing facilities, strategic supply partnerships and representation in 18 locations across Europe, Africa, the Middle East, Asia Pacific and North America.

For more information visit :  www.tekmargroup.co.uk .

Subscribe to further news from Tekmar Group at   Group News .

 

END

 

 

CNTFLFSRETISFIF