SRT Marine signs contract with 'significant' coastguard in Asia
Sharecast
Published Nov 09, 2022 13:18
Updated Nov 09, 2022 13:42
SRT Marine signs contract with 'significant' coastguard in Asia
The AIM-traded firm said the contract was for a small system that would enable the coastguard to coordinate several other national agencies when identifying and scheduling vessel inspections for safety, law enforcement and security purposes.
It said the project was expected to be completed by March next year.
The board described the end customer as a “significant national coastguard”, adding that the contract was the first step on the coastguard’s long-term strategy to build up a “next-generation” national integrated maritime surveillance and intelligence system
“We are delighted to have signed this new contract and open another new long-term market and customer for our maritime surveillance system solutions,” said chief executive officer Simon Tucker.
“Whilst this first contract is small, it is strategically important for SRT given their ambitious future maritime surveillance plans.”
At 1246 GMT, shares in SRT Marine Systems were up 1.7% at 41.95p.
Reporting by Josh White for Sharecast.com.
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