REG - Westminster Group - New 20 Year Border Security MoU in Middle East <Origin Href="QuoteRef">WSG.L</Origin>

WestminsterAnnouncement

22/02/2016 07:11

RNS Number : 6614P
Westminster Group PLC
22 February 2016
22 February 2016
Westminster Group Plc: 
New 20 Year Middle East Border Security MoU 
Westminster Group Plc ('Westminster', the 'Group' or the 'Company'), the AIM listed supplier of managed services and technology based security solutions to governments and government agencies, non-governmental organisations (NGO's) and blue chip commercial organisations worldwide, is pleased to announce that its Technology Division has signed a Memorandum of Understanding ("MoU") relating to a 20 year border security project in the Middle East.
The project will involve the provision of equipment, training and ongoing maintenance of security screening checkpoints for the duration of the contract, being initially 20 years, at an import border crossing within the Middle East. The border crossing is a major and very busy transit point between two countries and due to the volumes of traffic passing through the crossing vehicles can be queued for several days waiting to cross. The purpose of the project is to provide advanced screening, monitoring and detection systems that will significantly speed up the crossing process whilst maintaining a high degree of security. The MOU has been entered into with the authority responsible for border security.
The authorities in the country concerned regard this project as a high priority and have selected Westminster, entering into an exclusive MoU with them, based on Westminster's reputation, experience and capabilities. In accordance with the terms of the MoU Westminster will now be undertaking a gap analysis and feasibility study prior to finalising contract negotiations. 
Under the proposed contract and project programme Westminster will establish an office in the country and will provide the specialist equipment and technologies and the ongoing support and maintenance teams necessary to ensure all equipment is regularly serviced and any malfunctions are quickly rectified. The Company will generate its revenues from a security charge on vehicles and containers passing through the crossing with certain minimum revenue guarantees provided by the authorities.
Commenting on the MoU award Peter Fowler, Chief Executive of Westminster Group, said:
"I am delighted to announce this latest development for our Technology Division which follows several important long term (typically 15 - 25 year) project MoU's signed by our Managed Services Division in the last few months and shows the momentum we are achieving in establishing long term, recurring revenue projects in various regions of the world.
"This is a further illustration of the corporate development activities that we are supporting through the fund raising announced today.
"Whilst there is of course no certainty as to timing or the final outcome of these or any of the project opportunities in progress we believe the number of long term, large scale MoU's now in play, any one of which provide significant revenue opportunities, and the momentum we are seeing together with the current focus on security worldwide is encouraging and we will of course continue to update the market on progress in due course."
For further information please contact:
Westminster Group plc.
Tel: 01295 756 300
Peter Fowler (Chief Executive)
Ian Selby (Chief Financial Officer)
S. P. Angel Corporate Finance LLP (NOMAD & Broker)
Tel: 020 3470 0470 
Stuart Gledhill
Walbrook PR (Financial PR)
Tel: 020 7933 8780
Tom Cooper/Paul Vann
0797 122 1972
tom.cooper@walbrookpr.com
Notes:
Westminster Group plc is a specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, encompassing a wide range of surveillance, detection, tracking and interception technologies and the provision of long term managed services contracts such as the management and running of complete security services and solutions in airports, ports and other such facilities together with the provision of ferry services, manpower, consultancy and training services. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations (NGO's) and blue chip commercial organisations. For further information please visit www.wsg-corporate.com

This information is provided by RNS
The company news service from the London Stock Exchange
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