Project Award - subject to contract

RNS Number : 4878C

LPA Group PLC

19 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 export rail market.

The award, to supply seat automation; control; diagnostics; lighting and power electronics, is for the Avelia Horizon high speed next generation TGV trains, being built by Alstom in France for SNCF.  The contract award from Grammer AG (Germany), one of the world's leading manufacturers of seating systems, will incorporate LPA's innovative electronics technology within the seat, which itself brings market leading design; ergonomics and condition monitoring to the rail market.  The initial award for 50 double decker train sets includes an option for an additional 50 train sets.  Supply is scheduled to commence late 2021 to 2026.

The award is in line with the Company's management expectations.

Paul Curtis - CEO commented:

" The award by Grammer continues to build on the progress made by our LPA Lighting Systems division and its increasing worldwide reputation for technical ability and innovation in both lighting, and electronics.  This project, being our second announced award in October, is a great start to our 2021 financial year ."

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 / Liam Murray 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.

 

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