Last checked at 12 Oct 2015 07:00
12 October 2015
Westminster Group Plc:
New Airports MoU
Westminster Group Plc ('Westminster', the 'Group' or the 'Company'), the AIM listed supplier of managed services and technology based security solutions to governments and government agencies, non-governmental organisations (NGO's) and blue chip commercial organisations worldwide, is pleased to announce that its managed services division, through its wholly owned subsidiary, Westminster Aviation Security Services ('WASS'), has signed a Memorandum of Understanding ("MoU") with a government owned airport authority (the "Authority") for the provision of long term (up to 25 years) security and safety services at a number of the country's airports.
The MoU was signed at a formal meeting between WASS senior personnel and delegation senior figures from the Ministry and Authorities of the country concerned. The parties are now undertaking preparatory legal and regulatory works to enable the deployment of a team of aviation security experts from WASS to undertake a comprehensive survey of the airports concerned producing a full gap analysis and project plan as a prelude to final contract discussions.
Commenting on the MoU award Peter Fowler, Chief Executive of Westminster Group, said:
"I am delighted to announce this latest development in our roll out of airport security services around the world as we have been in discussions with the government concerned for some time and the signing of this MoU is a significant step forward.
"The country concerned has long been a priority target for us given its geographical location, which is a completely different region to our West African operations, coupled with the country's stability and growth potential.
"Our strategy of developing long term, recurring revenue, managed services projects protecting critical infrastructure such as airports, ports and harbours around the world is gathering momentum and, as previously reported, we are now in discussions with a number of governments and authorities across several continents regarding large scale, long term (typically 15 - 25 years) projects, of which this is just one example.
"We continue to receive strong UK Government support through our various overseas diplomatic missions and UKTI and that has most certainly been the case with this project which has greatly assisted with progressing our discussions.
"Whilst there is of course no certainty as to timing or the final outcome of this or any of the project opportunities in progress we believe the economic and regulatory drivers behind this particular project provides significant momentum and we will of course update the market on progress in due course."
For further information please contact:
Westminster Group plc. | Tel: 01295 756 300 |
Peter Fowler (Chief Executive) |
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Ian Selby (Chief Financial Officer) |
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S. P. Angel Corporate Finance LLP (NOMAD + Broker) | Tel: 020 3470 0470 |
Jeff Keating |
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Walbrook PR (Financial PR) | Tel: 020 7933 8780
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Tom Cooper/Paul Vann | 0797 122 1972 |
| tom.cooper@walbrookpr.com |
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