Petards Regulatory News (PEG)

13 Aug 2009 07:00



PETARDS GROUP PLC ("Petards" or the "Group")

CONTRACT AWARD

Petards, the AIM quoted listed developer of advanced surveillance systems, announces that Petards Joyce-Loebl has been awarded a three year enabling contract to supply UK Ministry of Defence (MOD) Units and Establishments with private mobile radio equipment, ancillaries and engineering services.

The contract is for an initial period of three years with the MOD having the option to extend by a further two years. It is a follow on from a previous contract for the supply of similar equipments and services which expired earlier this year and for which Petards was the existing supplier. Revenues arising from the new contract are anticipated to be in excess of £1m per annum over the contract term.

As well as supplying commercially available equipment, the contract also utilises Petards design engineering skills to identify and supply solutions to complex military communications requirements.

The MOD have also recently awarded Petards another order worth in the region of £0.3m to make available specialist engineering resources over a three year period, with the option of a further extension of up to three years. The contract also provides the framework under which the MOD places additional orders for engineering tasks in support of current operations.

Commenting on the award Petards Chief Executive Bill Conn said "The award of these orders demonstrates the broad capability held by the Group and recognition by the MOD of the high level of customer service and experience that Petards provides in supporting their requirements." 

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