LONDON--Petards Group PLC (PEG.LN), an AIM quoted developer of
advanced security and surveillance systems, said Thursday it has
signed a framework agreement to supply Siemens Sector
Infrastructure and Cities, Rail Systems division with Petards train
related products and services, worth over 1.5 million pounds ($2.55
million).
The agreement is for an initial five year term, renewable
annually thereafter, and covers the world-wide Siemens business,
Petards said.
Petards said it has already secured its first order under the
agreement, supplying the eyeTrain on-board digital CCTV systems for
the new super high-speed Velaro type trains Siemens is building for
the Turkish State Railway.
Petards Shares at 1015 GMT up 2 pence, or 18%, at 11 pence
valuing the company at GBP4 million.
-Write to Ian Walker at ian.walker@wsj.com
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