Petards Group PLC MOD contract award (1449L)

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RNS Number : 1449L

Petards Group PLC

02 July 2014

2 July 2014

Petards Group plc

("Petards" or "the Company")

MOD Contract Award

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that Petards Joyce-Loebl has been awarded a contract by the Ministry of Defence ("MOD") to undertake a modification programme relating to countermeasures equipment fitted to certain aircraft within its current in-service fleet.

The contract, worth over GBP4.5m, is to replace obsolete components within ALE-47 Threat Adaptive Countermeasure Dispensing System (TACDS) Programmers which form part of the integrated Defensive Aids Suite installed in the RAF's C-130 J transport aircraft, Merlin Mk.3, Chinook Mk.2, 2A, 3, and 6 and Puma helicopters. Petards Joyce-Loebl is the UK Design Organisation and co-ordinating Design Authority for the ALE-47 TACDS.

The project, which will commence immediately, is expected to contribute to revenues in the current and the two subsequent financial years with the largest proportion falling within 2015. It is anticipated that the project will be completed by the end of the first quarter of 2016.

Raschid Abdullah, Petards Chairman said: "This order is a great achievement for Petards Joyce-Loebl and is a result of its expertise in electronic countermeasures which has been built up over many years. The Company has a long heritage in providing electronic countermeasure systems and services that help to protect the lives of the UK's service personnel and the aircraft in which they serve and is proud to be given the opportunity to work with MOD on this programme."

For further information:

 
 Petards Group plc                  www.petards.com 
 Raschid Abdullah, Chairman         Mb: 07768 905 004 
 Andy Wonnacott, Finance Director   Tel: 0191 420 3000 
 
 WH Ireland Limited, Nomad and      www.wh-ireland.co.uk 
  Joint Broker 
 Mike Coe, Ed Allsopp               Tel: 0117 945 3470 
 
 Hybridan LLP, Joint Broker         www.hybridan.com 
 Claire Louise Noyce                Tel: 020 3713 4581 
                                     claire.noyce@hybridan.com

This information is provided by RNS

The company news service from the London Stock Exchange

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