3rd Jul 2024 10:56
(Alliance News) - Tekmar Group PLC shares rose on Monday, after it said it has won a "significant" contract, worth over EUR4 million.
Shares in the company were up 6.0% to 9.80 pence each in London on Wednesday morning.
The contract is for the design and supply of Tekmar's flagship Generation 10 cable protection system product and associated ancillaries.
The CPS units will be installed throughout a European wind farm project, which it said is part of a larger regional development.
The CPS units will be manufactured at Tekmar's Newton Aycliffe, U facility.
The project will begin immediately and be delivered in December 2025.
Chief Executive Alasdair MacDonald said: "This contract, where we are partnering with a new customer, is testament to our strong in-house engineering capabilities, which enable us to address customers' complex engineering requirements and optimise and de-risk projects. The award helps consolidate our strong position in the European offshore wind market and reflects the strength of our working relationships with project developers and key supply chain partners."
By Sophie Rose, Alliance News senior reporter
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