23rd Nov 2009 07:00
FOR IMMEDIATE RELEASE 23rd November 2009
RAM INVESTMENT GROUP PLC
("RAM" or the "Company")
TrainFX Limited signs First Great Western contract.
RAM announces that its investee company, TrainFX Limited ("TrainFX"), the developer of passenger information, media, communication and security systems for the rail sector, has been awarded a major contract by First Greater Western Limited ("First Great Western") to design, supply and install their new Advanced Passenger Information System on two major Thames Turbo fleets.
First Great Western is replacing the existing system on 88 class 165 vehicles and 63 class 166 vehicles, in order to provide considerably improved information for passengers travelling on the Thames Valley route.
The contract value is approximately £1 million and deliveries are expected to commence and complete in 2010.
Tim Baldwin, Chairman of RAM, commented "TrainFX is poised to enhance future business opportunities as we believe that there is a UK available market in excess of £35 million for an advanced passenger information system and £20 million of surveillance systems segmented by 'new' and 'replacement' sales, due to the number of trains that do not have systems fitted and the number of trains estimated to require system upgrade or replacement. This follows the introduction of European legislation for an increase in mass transit passenger information. We view this contract with First Great Western as an important step for TrainFX in the supply of its portfolio of new leading edge technologies to the rail sector."
Commenting on the award, Phil Campbell, Managing Director of TrainFX, said "I am delighted that First Great Western has chosen TrainFX to provide our new advanced passenger information technology for these two fleets. As part of the largest train operating group in the UK, we are looking forward to working with First Great Western."
For further information:
|
RAM Investment Group plc |
www.raminvestmentgroup.co.uk |
|
Tim Baldwin, Executive Chairman |
Tel: 0207 518 4303 |
|
Sandy Jamieson Libertas Capital Corporate Finance Limited |
Tel: 0207 569 9650 |
|
Monisha Varadan, Rivington Street Corporate Finance Limited |
Tel: 0207 562 3389 |
|
TrainFX Ltd |
www.trainfx.com |
|
Phil Campbell, Managing Director |
Tel: 01332 366175 |
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