Project Award - subject to contract

RNS Number : 1224C

LPA Group PLC

15 October 2020

 

LPA GROUP PLC

("LPA", the "Company" or the "Group")

Project Award - subject to contract

LPA Group Plc, t he high reliability LED lighting and electro-mechanical system manufacturer, is pleased to announce a significant project award, subject to contract, for the UK rail market.

The award from Siemens Austria is for the design and supply of interior lighting and door status lights for London Underground's Deep Tube upgrade program ("DTUP").  The initial award is for the supply of lighting systems for 94 newly designed train sets for the Piccadilly Line, with scheduled product deliveries from 2023.  The Deep Tube upgrade program has options for a further 216 train sets across other London Underground deep tube lines.  The train sets are to be manufactured by Siemens Mobility Austria in Vienna and in a new facility in Goole, West Yorkshire, with LPA supply reinforcing UK content within the program. The award is in line with the Company's management expectations.

Paul Curtis - CEO commented:

"This is a prestigious award which LPA is delighted to have received.  The DTUP award builds on the OBB (Austrian Federal Railways) award announced on 21 January 2020 from Siemens Austria.  We anticipate the Group's pre-production outputs to commence in late 2021 for DTUP."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 

Enquires:	www.lpa-group.com		Tel:
LPA Group Plc
Peter Pollock	Chairman		07881 626123
Paul Curtis	CEO		01799 512858
Chris Buckenham	CFO		01799 512859
Cairn Financial Advisers	(Nominated Adviser)		020 7213 0880
James Caithie / Ludovico Lazzaretti
finnCap	(Broker)		020 7220 0500
Ed Frisby / Teddy Whiley (Corporate Finance) Tim Redfern / Tim Harper (ECM & Sales)

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

END

 

 

CNTGPGQGUUPUGQC