Last checked at 1 Apr 2014 07:00
1st April 2014
Westminster Group Plc:
$2.6 million New Contract Award
Vehicle Screening Solution - Asia
Westminster Group Plc ('Westminster' or the 'Group'), the AIM listed supplier of system solutions and products to the security, defence, fire protection and safety markets worldwide, is pleased to announce that it has secured a new contract for the supply of a high technology vehicle screening system to be used to protect an extensive border security project in Asia.
The contract, secured by the Group's Technology Division and valued at approximately $2.6m, the majority of which is expected to be billed within the current financial year, is to provide specialist vehicle screening equipment which Westminster will install with comprehensive in-country operator training. The system will enable screening of lorries and vehicles crossing a border to detect illegal cargo and contents such as drugs, weapons, explosives, human trafficking and other contraband. Following the initial successful installation under this contract, the intention is to extend the programme to provide similar solutions covering numerous other border crossings in the country concerned which would be contracted separately. Additionally, due to the sophistication of the equipment involved, once delivered there is also potential for ongoing recurring revenue of each installation via multiyear maintenance agreements.
Commenting on the contract award Peter Fowler, Chief Executive of Westminster Group, said:
"I am delighted to announce this latest multi-million USD contract award to protect an important new governmental customer's borders within Asia. The contract is significant both in terms of the country concerned and the potential size of the follow on business once the initial project is proven.
"This is a further validation of our business model of building our network of agents and investor partners and in providing niche products and large scale integrated solutions, via our Technology Division, to governments and major corporations within the Middle East, Africa and Asia."
For further information please contact:
Westminster Group plc. | Tel: 01295 756 300 |
Peter Fowler (Chief Executive) | |
Ian Selby (Chief Financial Officer) | |
S. P. Angel Corporate Finance LLP (NOMAD + Broker) | Tel: 020 3463 2260 |
Stuart Gledhill/Katy Birkin | |
Winningtons Financial (Financial PR) | Tel: 020 3176 4722 |
Tom Cooper/Paul Vann | 0797 122 1972 |
Notes:
Westminster Group plc. is a leader in the supply of system solutions and products to the security, defence, fire protection and safety markets worldwide.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, encompassing a wide range of surveillance, detection, tracking and interception technologies and the provision of long term managed services contracts such as the management and running of complete security services and solutions in airports, ports and other such facilities together with the provision of manned services, consultancy and training services. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations (NGO's) and blue chip commercial organisations. For further information please visit www.wsg-corporate.com