TIDMSNX

Synectics PLC

21 March 2019

RNS Reach

21 March 2019

Synectics plc

("Synectics" or the "Group")

Oil & Gas Contract Win

Synectics plc (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that it has secured a contract in the oil & gas sector.

The oil & gas market has been very difficult for the last few years and has been characterised by mostly small-value contracts for necessary additions and expansions to existing sites.

This contract, which is expected to be worth around GBP1 million during its life, is the largest new oil & gas order received by the Company for a number of years and is due to be delivered substantially in this financial year.

Working through a major European engineering company, Synectics has been awarded the contract to provide linked surveillance systems, based on its proprietary Synergy 3 software platform and COEX camera stations, across multiple new facilities in the Middle East. The operator is investing significantly in new facilities to further ramp up and maintain sustainable oil production for a national oil company.

Paul Webb, Chief Executive of Synectics, commented:

"The award of a project for new oil production facilities supports our expectation of increased activity in this sector into next year and beyond and reflects the strong reputation and market presence we have maintained during recent challenging conditions."

For further information, please contact:

 
 Synectics plc                     Tel: +44 (0) 1527 850 080 
 Paul Webb, Chief Executive             www.synecticsplc.com 
 email: info@synecticsplc.com 
 
 Stockdale Securities              Tel: +44 (0) 20 7601 6100 
 Tom Griffiths / Henry Willcocks 
 
 Media enquiries: 
 Intelligent Conversation          Tel: +44 (0) 161 212 1613 
 Claire Evans 
 claire@weareic.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

NRABBLLLKXFZBBL

(END) Dow Jones Newswires

March 21, 2019 03:02 ET (07:02 GMT)

Synectics (LSE:SNX)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024 Click aqui para mais gráficos Synectics.
Synectics (LSE:SNX)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024 Click aqui para mais gráficos Synectics.