ECA Group has been awarded a service contract from the Algerian state-owned oil group Sonatrach for the Arzew natural gas liquefaction plant in Algeria.
This contract of more than €4 million provides for the cleaning of the four seawater inlet galleries of the plant thanks to the VISIT submarine system of ECA Group. This powerful 6-ton vehicle equipped with hydraulic tools will clean all the walls of the pipes. These works should be completed during Summer 2019.
With this new contract, Sonatrach renews for the fourth time its confidence in ECA Group for the realization of this type of work, confirming the expertise and know-how of ECA Group in the field of the energy industry, especially for the cleaning of large hydraulic structures using underwater systems.
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Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties mentioned in the press release; the strength of competition; the continuing growth of the market; currency fluctuations; interest rate fluctuations; raw material price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain and manufacturing bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
Recognized for its expertise in robotics, automation systems, simulation and industrial processes, the ECA Group has been developing complete, innovative technological solutions for complex missions in hostile and confined environments since 1936. Its product offering is designed for an international client base that is demanding, both in terms of safety and effectiveness. The Group's main markets are in the defense, maritime, aeronautics, simulation, industrial and energy sectors.
In 2017, the Group reported revenue of €109.3 million across its three divisions: Robotics, Aerospace and Simulation.
The ECA Group is a Groupe Gorgé company.
The ECA Group is listed on Euronext Paris Compartment B.
ISIN Code: FR0010099515
Ticker Code: ECASA - Bloomberg Code: ECASA:FP
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Tel: +33(0)1 53 67 36 73
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