Petards wins £6m contract for GWR surveillance systems

(ShareCast News) - Advanced security and surveillance system software company Petards announced on Monday that it has been awarded a contract to supply Great Western Railway - part of FirstGroup - with Petards eyeTrain systems.The AIM-traded firm said the new contract, worth £6m, is for the design, development, supply and installation of eyeTrain systems to be fitted to Class 165 and 166 diesel multiple unit trains.It said 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, the board claimed.That work 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."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," said Petards chairman Raschid Abdullah.At 0853 BST, shares in Petards were up 18.39% at 18.35p.