RCS - Tekmar Group PLC - Contract Awards

TekmarAnnouncement

08/04/2024 07:00

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RNS Number : 5795J  Tekmar Group PLC  08 April 2024

 

 

TEKMAR GROUP PLC

("Tekmar Group" or the "Group")

 

CONTRACT AWARDS

 

Tekmar Group (AIM: TGP), a leading provider of products and solutions for the
global offshore energy market, is pleased to announce it has recently secured
a number of contract awards, with a cumulative value of approximately £6
million.

 

Contract awards

 

·      Tekmar subsidiary Pipeshield International has been awarded
contracts with a combined value in excess of £4 million. The contracts
comprise the manufacture and supply of concrete mattresses and sleepers to
support subsea pipelines, PRP rock bags and lifting equipment rental. The
contracts are scheduled for delivery in the current financial year ending 30
September 2024.

·      Separately, Tekmar's offshore wind business has secured a
contract award of approximately £2 million with a tier one offshore wind
contractor for the design and supply of Tekmar Group's flagship Generation 10
cable protection system (CPS) product and associated ancillaries. Delivery of
the CPS systems is scheduled for September 2025.

·      These contract awards support order intake of approximately £23
million in the financial year to date.

 

Alasdair MacDonald, CEO, commented: "These contract wins highlight a number of
the themes we outlined in our recent results: we are continuing to secure
contract volume on more favourable terms and our pipeline and enquiry book
remains healthy across the Group. Additionally, our Pipeshield business
continues to win significant and profitable contracts balancing our offshore
wind opportunity and building on its strong performance in 2023."

 

Enquiries:

 

 Tekmar Group plc                                                  +44 (0)1325 349 050

 Alasdair MacDonald, CEO

 Leanne Wilkinson, CFO

 Singer Capital Markets (Nominated Adviser and Joint Broker)       +44 (0)20 7496 3000

 Rick Thompson / Sam Butcher

 Berenberg (Joint Broker)                                          +44 (0)20 3207 7800

 Ben Wright / Ciaran Walsh

 Bamburgh Capital Limited (Financial PR & Investor Relations)

 Murdo Montgomery                                                  +44 (0) 131 376 0901

 

About Tekmar Group plc

 

Tekmar Group plc (LON: TGP) collaborates with its partners to deliver robust
and sustainable engineering led solutions that enable the world's energy
transition.

 

Through our Offshore Energy and Marine Civils Divisions we provide a range of
engineering services and technologies to support and protect offshore wind
farms and other offshore energy assets and marine infrastructure. With nearly
40 years of experience, we optimise and de-risk projects, solve customers'
engineering challenges, improve safety and lower project costs. Our
capabilities include geotechnical design and analysis, simulation and
engineering analysis, bespoke equipment design and build, subsea protection
technology and subsea stability technology.

 

We have a clear strategy focused on strengthening Tekmar's value proposition
as an engineering solutions-led business that offers integrated and
differentiated technology, services and products to our global customer base.

 

Headquartered in Darlington, UK, Tekmar Group has an extensive global reach
with offices, manufacturing facilities, strategic supply partnerships and
representation in 18 locations across Europe, Africa, the Middle East, Asia
Pacific and North America.

 

For more information visit: www.tekmargroup.com (http://www.tekmargroup.com)

 

 

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