12th Nov 2013 09:35
LONDON (Alliance News) - Imaging technology company OMG PLC Tuesday said its infrastructure asset management technology arm, Yotta, has won a contract worth up to GBP100,00 a year to provide a range of high-tech road surveys and consultancy services to Hounslow Highways.
It said the contract is for a year initially, with an option to big again on an annual basis.
Hounslow Highways is a Private Finance Initiative partnership between the London Borough of Hounslow, VINCI Concessions and Ringway. It began looking after roads in Hounslow from January. Yotta will provide surveys including skid resistance and traffic speed surveys.
"We have worked for several years with the council and this new contract further cements our relationship with Hounslow Highways as it works toward improving the infrastructure across the borough," OMG Chief Executive Nick Bolton said in a statement.
Last month, OMG warned that its full-year revenues and profit would be behind market expectations, although ahead of the previous year, as US government-budget sequestration delayed the timing and shape of certain deals.
OMG shares last traded at 28 pence.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Oxford Metrics