24th Jul 2015 08:39
LONDON (Alliance News) - Software Radio Technology PLC on Friday said it has secured a USD700,000 contract for the deployment of AIS Class A transceivers on Philippines-based fishing vessels over the next seven months.
Authorities in Philippines are planning to monitor the country's maritime exclusive economic zone in order to track vessels operating in the area.
"Whilst a relatively small order compared to the potential size of the Philippine maritime market opportunity, I am delighted that another significant market has entered its implementation phase," said Simon Tucker, the company's chief executive.
Software Radio shares were up 4.1% to 26.7999 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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