24th Sep 2024 13:52
(Alliance News) - Petards Group PLC on Tuesday said that its subsidiary, QRO Solutions, has been awarded a contract worth over GBP600,000 for automatic number plate recognition systems.
Petards is a Guildford, England-based developer of advanced security, communication, and surveillance systems.
There is also the option for the customer to increase the contract value to GBP800,000.
According to the deal, QRO Solutions will supply and install NASBox roadside automatic number plate recognition systems - or ANPR - to one of its existing UK police force customers.
The new systems represent an upgrade to the customer's current technology and will replace systems previously installed by a competitor.
Deliveries are expected to start in the final quarter of this year, with GBP400,000 scheduled to be delivered in the first year, and the balance of GBP200,000 before the end of the second year.
The customer's option to increase the order value by a further GBP200,000 to procure other ANPR equipment, may be exercised for deliveries within the next three years.
"We are delighted at QRO's success in securing this significant contract and that one of the UK's largest police forces has again selected QRO to supply its ANPR technology," said Chair Raschid Abdullah.
Shares in Petards Group were flat at 8.30 pence each in London on Tuesday afternoon.
By Holly Beveridge, Alliance News senior reporter
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