2nd Feb 2015 09:23
LONDON (Alliance News) - Software Radio Technology PLC Monday said it expects to see demand for its automated identification system transceivers boosted by a new mandate by the US Coast Guard.
The US Coast Guard has published new regulations requiring more commercial vessels in US waters to install and operate a certified automated identification system transceiver within the next thirteen months.
"We have already started to see orders from customers as recently announced, and expect to see demand for our USCG certified Class A and Class B transceivers increase significantly over the 12 month implementation period from customers addressing the US commercial boat market," said Chief Executive Officer Simon Tucker in a statement.
The new rule means that vessels including fishing boats, tugs and ferries must install the transceivers, and requires all vessels to be in compliance by March 2016.
Shares in Software Radio Technology are trading up 10% at 32.50 pence Monday morning, near to its 52-week high.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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