New Contract Award

RNS Number : 8275T

Tekmar Group PLC

27 July 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.   Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

TEKMAR GROUP PLC

("Tekmar Group" 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 a significant new contract award to supply 100 Cable Protection Systems ("CPS") for use on multiple offshore wind farms in the Shangdong and Guangdong provinces of China. The contract value is for £1.6m and the systems are expected to be delivered through 2022.

Alasdair MacDonald, CEO of Tekmar Group, said: "This award is a continuation of our recent contract momentum and builds on our success in the important Chinese market. The contract reflects the hard work of our team in Shanghai and strengthens the Group's presence in the region, supporting our global growth strategy."

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 for the release of this announcement on behalf of Tekmar is Derek Bulmer, Chief Financial Officer. 

About Tekmar Group plc  

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.com

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