New contract win

RNS Number : 2949G

Petards Group PLC

03 March 2015

 

3 March 2015

Petards Group plc ("Petards")

New contract win from Siemens

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that it has received a significant order to supply Siemens Mobility Division ("Siemens") with Petards eyeTrain products.

During 2014 Petards entered into a framework agreement under which Petards has the opportunity to supply Siemens' world-wide rail vehicle business with its train related products and services.  This further order is for Petards eyeTrain on-board digital CCTV systems that will be fitted to new Desiro City Electrical Multiple Unit (EMU) trains being built by Siemens.

The equipment to be supplied will provide the trains with Driver Only Operation (DOO) capability as well as providing CCTV coverage of the internal saloon areas. 

The order is worth in excess of £1.5 million.  Engineering activities will commence immediately with the first equipment deliveries expected to be made in the latter part of this year.  It is anticipated that the majority of the equipment will be delivered in 2016 and that the project will be completed during 2017.

Commenting on the award, Petards Chairman Raschid Abdullah said: "The framework agreement entered into last year was a significant milestone for Petards and we are very pleased with the new opportunities that are flowing from this strategic relationship with Siemens."

For further information:

Petards Group plc	www.petards.com
Raschid Abdullah, Chairman	Mb:  07768 905004
Andy Wonnacott, Finance Director	Tel: [phone]
WH Ireland Limited, Nomad and Joint Broker	www.wh-ireland.co.uk
Mike Coe, Ed Allsopp	Tel:  [phone]
Hybridan LLP, Joint Broker	www.hybridan.com
Claire Louise Noyce	Tel:  [phone] [e-mail]

 

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