5th Feb 2016 09:24
LONDON (Alliance News) - Pennant International Group PLC on Friday said its training systems subsidiary has won a contract with one of the world's leading aerospace and defence contractors, with the deal having an initial value of GBP200,000 but which could be worth more than GBP2.2 million over 18 months.
The AIM-listed company, which did not identify the contractor in question, had previously referred to the contract in December, when pre-contract work had begun. The contract is for the development of training for aircrew and engineering staff.
"This is the second global OEM [original equipment manufacturer] contractor to be added to Pennant's customer base since September 2015 and is further evidence of Pennant's growing reputation within the global defence industry," Chief Executive Chris Snook said.
Shares in Pennant were down 2.8% at 41.33 pence on Friday morning.
Pennant expects to announce its results for 2015 on March 7.
By Samuel Agini; [email protected]; @samuelagini
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