Pennant International Regulatory News (PEN)

10 Mar 2005 07:00

Pennant International Group PLC10 March 2005 10 March 2005 PENNANT INTERNATIONAL GROUP PLC Pennant Signs French Joint Venture Cheltenham based Pennant International Group plc, a leading supplier oftechnology solutions to the defence and industrial sectors, is linking up in a50-50 joint venture with one of France's leading technical publications supportcompanies, Sonovision-ITEP. "This joint venture will help us to become a major European force in customerservices, including technical documentation and engineering support for theaerospace and defence markets," explains Chris Snook, Chief Executive ofPennant. Known as Pennant Sonovision-ITEP Limited, the joint venture company is a logicalprogression from the teaming agreement signed between Pennant andSonovision-ITEP in 2003. This agreement was signed in response to therequirements of European projects in the aerospace and defence sectors involvingFrench and UK companies and in particular, programmes for Airbus aircraft,including the new A380. The joint-venture company will be based at Filton,Bristol, the UK HQ for Airbus. Pennant International Group plc is quoted on the Alternative Investment Market(AIM) of the London Stock Exchange. Sonovision-ITEP is a privately owned French company with its headquarters inParis and numerous operations throughout France. It is one of the main technicalpublications groups with 850 employees and a turnover in excess of 60 millioneuros. For further information please contact: John Waller, Group FD, Pennant 01452 714 914Ken Rees/Philip Parkes, Binns Winningtons 0117 920 0092Barrie Newton, Rowan Dartington 0117 925 3377 This information is provided by RNS The company news service from the London Stock Exchange