10th Oct 2016 07:00
10 October 2016
PETARDS GROUP PLC ("Petards" or the "Group")
Contract Win
Petards, the AIM quoted software developer of advanced security and surveillance systems, announces that it has been awarded a contract to supply Great Western Railway with Petards eyeTrain systems.
The new contract, which is worth approximately £6 million, is for the design, development, supply and installation of eyeTrain systems to be fitted to Class 165 and 166 Diesel Multiple Units ("DMU") trains. The developed systems add substantial new software driven functionality to Petards' existing eyeTrain solutions. Engineering development is already underway and will make a contribution to 2016 revenues. This is expected to be completed by the third quarter of 2017 when deliveries of the integrated systems will commence with scheduled completion by the end of 2018.
Commenting, Petards Chairman Raschid Abdullah said: "We are delighted that Petards has been selected by Great Western Railway to work with them on this exciting project which further enhances our position in the rail industry and significantly strengthens the Group's present order book for delivery in 2017 and 2018."
Contacts:
Petards Group plc | www.petards.com | |
Raschid Abdullah, Chairman | Mb: 07768 905 004 | |
WH Ireland Limited, Nomad and Joint Broker | www.wh-ireland.co.uk | |
Mike Coe / Ed Allsopp | Tel: 0117 945 3470 | |
Hybridan LLP, Joint Broker | www.hybridan.com |
|
Claire Louise Noyce
| Tel: 020 3764 2341 |
|
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