REG - Tekmar Group PLC - New Contract Award

TekmarAnnouncement

04/01/2024 07:00

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RNS Number : 5884Y  Tekmar Group PLC  04 January 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR. Upon the publication of this announcement via a Regulatory Information
Service, this inside information is considered to be in the public domain.

 

 

TEKMAR GROUP PLC

("Tekmar Group" or the "Group")

 

New Contract Award

 

Tekmar Group (AIM: TGP), a leading provider of products and solutions for the
global offshore energy market is pleased to announce a significant new
contract award.

 

The contract award is for the design and supply of Tekmar Group's flagship
Generation 10 cable protection system (CPS) and associated ancillaries in an
emerging region for offshore wind farm development. The contract covers the
first phase of the development, with the contract value for this initial phase
in excess of £3.5 million. Production of the CPS systems is expected to
commence in 2024 for delivery in 2025.

 

Alasdair Macdonald, CEO of Tekmar Group, said "This contract helps consolidate
our position in a growing and important region for offshore wind and
highlights the strength of our established engineering capability in
supporting deployment of our core technologies globally. It also reflects the
strength of our working relationships with project developers and key supply
chain partners, where we address customers' complex engineering requirements
and optimise and de-risk projects. We look forward to supporting our partners
in the successful delivery of this project and to collaborating with them on
further phases of this landmark project."

 

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

 

 

The person responsible for arranging for the release of this announcement on
behalf of Tekmar is Leanne Wilkinson, Chief Financial Officer.

 

 

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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