19th Sep 2013 07:09
LONDON (Alliance News) - Petards PLC Thursdays said it had won a multi-million euro contract with Hitachi Rail Europe Ltd to supply passenger counting systems for its new class of intercity trains.
In a statement, the developer of security and surveillance systems, said the initial contract is for Hitachi Class 800 trains for the Great Western Main Line worth in excess of EUR1.1 million over the next three years.
"While the majority of the order will not be fulfilled until 2015 and 2016, the longer term nature of orders from new build train manufacturers provides visibility for future earnings and the ability to forge enduring relationships with them," Chairman Raschid Abdullah said.
The stock was up 9.6% at 14.2425 pence early Thursday, one of the leading gainers on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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