REG - Tekmar Group PLC - Offshore Wind Contract Award

TekmarAnnouncement

27/01/2025 07:00

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RNS Number : 6966U  Tekmar Group PLC  27 January 2025

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", "Tekmar" or the "Group")

 

 Offshore Wind Contract Award

 

Tekmar Group (AIM: TGP), the leading provider of products and solutions for
the global offshore energy market, is pleased to announce a significant new
contract award with a total value in the region of £5 million for a UK-based
offshore wind farm project.

 

The contract is for the design and supply of Tekmar's flagship Generation 10
cable protection system ("CPS") and associated ancillaries, including cable
hang-off clamps. Tekmar Group will leverage its in-house engineering expertise
and holistic CPS design capabilities to deliver a solution optimised for the
project's specific requirements. The project will commence immediately, with
delivery scheduled for completion in CY2025.

 

Richard Turner, CEO, Tekmar Group, commented: "We are delighted to be
partnering with this client for the first time on a project of this size as
part of their Engineering Procurement, Construction and Installation ("EPCI")
scope of supply. Tekmar has been selected because of our integrated offering,
including our early-stage engineering support, our customer focus and our
track record which is unrivalled in the industry. We will design and deliver
next generation protection solutions to this landmark project in the UK, this
is testament to the differentiated value that Tekmar brings to protecting
offshore assets.

 

This contract is also an important step in delivering our ambitious plans for
order book development in FY25 and beyond as we look to outperform an
improving and growing market."

 

Enquiries:

 Tekmar Group Plc                                              c/o +44 (0)20 4582 3500
 Richard Turner, CEO

 Leanne Wilkinson, CFO

 Cavendish Capital Markets Limited (Nomad and Broker)          +44 (0)131 220 9772
 Peter Lynch

                                                             +44 (0)131 220 9771
 Neil McDonald

                                                             +44 (0)131 220 9775
 Pearl Kellie

 Gracechurch Group (Financial Media & Investor Relations)      +44 (0)20 4582 3500

 Murdo Montgomery

 Heather Armstrong

 

About Tekmar Group plc

 

Tekmar Group plc 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 near 40
years of experience, we optimise and de-risk projects, solve customer's
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 which offers integrated and
differentiated technology, services and products to our global customer base.

Headquartered in Newton Aycliffe, 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/)

Subscribe to further news from Tekmar Group at Group News
(http://eepurl.com/cN91l5) .

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