REG - Cordel Group PLC - 3 year renewal of contract with Holland, LP

CordelAnnouncement

23/02/2023 07:45

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RNS Number : 8284Q  Cordel Group PLC  23 February 2023

23 February 2023

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

 

3 Year Renewal of contract with leading US rail inspection company.

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces the signature of a new long-term
Agreement with Holland, LP.

 

Holland provides geometry, rail wear, and track strength testing services for
over 120 freight, transit, short line, and other customers in North America,
covering more than 80,000 miles of track.

 

Following the original partnership announcement of 27 September, 2021, and a
number of successful customer engagements, both parties now wish to extend the
scope and term of the agreement, in a manner which improves commercial
outcomes and expands sales activity.

 

Nick Wayne, VP Americas, Cordel, said: "This is a big step forward in our
partnership with Holland and for our North American business at large. We've
taken our learnings from the first phase of our partnership and have updated
the product offering, commercial model, and operational components in a way
that will make this partnership even more effective going forward."

 

Ian Buddery, Chairman, Cordel, said: "We are delighted to step up to the next
level with Holland LP.  This highly valued partnership enables us to reach a
large audience of rail customers with a compelling solution, underpinned by
the reputation and expertise of Holland and its people.  We expect this to
result in a deeper pipeline of appropriately qualified opportunities in North
America."

 

Enquiries:

 

 Cordel Group PLC                           c/o Zeus Capital
 Ian Buddery, Chairman

 Nick Smith, CEO
 Zeus Capital Limited Broker                +44 (0)20 3829 5000
 Simon Johnson / Alexandra Campbell-Harris

 Strand Hanson Limited Nominated Advisor

 Richard Johnson / James Bellman            +44 (0)20 7409 3494

 

About Cordel

Cordel produces specialist hardware and software for capturing, analysing and
reporting on large datasets within the transport sector, employing
sophisticated artificial intelligence algorithms.  Further information on the
Company is available at: www.cordel.ai

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