LONDON (Alliance News) - Petards Group PLC Monday said it has won a further contract to supply rail technology company Bombardier Transportation with Petards' eyeTrain systems.
The security and surveillance systems provider said the new contract, which is worth in excess of GBP1 million, is for the supply of eyeTrain saloon and Driver Only Operation systems which will be fitted to new four-car Electrostar Electrical Multiple Unit trains to be built by Bombardier.
Deliveries are expected to commence during 2016 and will be substantially completed by the end of that year.
"We are delighted that Petards' eyeTrain systems continue to be the system of choice for fitment to Bombardier's Electrostar trains. This order adds to the hundreds of Electrostar vehicles for which eyeTrain systems have previously been specified and further bolsters the group's present order book for delivery in 2016," Chairman Raschid Abdullah said in a statement.
Shares in Petards were trading up 8% at 13.50 pence early Monday following the announcement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Petards (PEG)