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  ECA company press release from 28/09/2020

  28/09/2020 - 08:00

ECA Group wins a contract worth more than 20 million euros for the modernisation of mine countermeasures vessels to be equipped with its UMIS unmanned system


Toulon, September 28, 2020, 8:00 a.m.

 

Following an international contest, ECA Group has been awarded a contract worth more than 20 million euros for the modernization of three mine countermeasures vessels belonging to the Latvian navy and equipped with conventional mine countermeasures vessels acquired from the Royal Netherlands navy in 2006. These vessels require a modernisation of their mine hunting system. These vessels will be delivered with a Mine Warfare Data Center successively in 2021, 2023 and 2024.

This new success follows the contract won in 2019 in consortium with Naval Group, Belgium Naval & Robotics, for the supply of the unmanned system (Toobox) UMISTM (Unmanned Mine Countermeasures Integrated System) to the Belgian and Dutch navies for an amount of approximately 450 million euros; the first contract in the world for new ships equipped with a Toobox, representing a technological leap in the field of underwater mine clearance.

Under this contract, ECA Group will provide the Latvian navy with an innovative solution for the modernisation of its existing mine countermeasures vessels, replacing the conventional detection system based on a hull sonar for mines with a smaller unmanned system consisting of the underwater drones AUV A18-M for detection and underwater robots Seascan MK2 and K-STER C for identification and clearance of the mines. ECA Group will modify the vessels with the support of its subsidiary Mauric, specialized in naval architecture, and Latvian partners, in order to install these modern mine countermeasures systems. At the end of the contract, the Latvian Navy will thus be able to carry out underwater mine clearance operations without the ship entering the minefield (Stand-Off concept).This contract, like all mine warfare contracts, will entail maintenance and sales of consumable over a period of 10 to 20 years.

The Latvian navy will acquire a compacte version of the UMISTM system. As ECA Group's UMISTM system is scalable, in the future, the marine will be able to supplement its unmanned system progressively, depending on its needs, while maintaining the compatibility with the existing, modernised equipment and new, integrated drones.

While many navies will be buying new mine countermeasures vessels equipped with a Toolbox in the coming years, many of them have mine countermeasures vessels with a lifespan that can be increased or will acquire pre-owned ones. The latter might be interested in modernisation solutions allowing them to benefit from the high-performance level of the latest drones and to switch to the Stand-Off mine countermeasures operations enhancing the security for the crews and the ship.

With this contract, ECA Group is growing on a new market: renovation of mid-life mine countermeasures systems on ships. In the case of Latvia, it concerns the Alkmaar tripartite mine countermeasures vessel acquired from the Royal Netherlands navy. The solution chosen by Latvia allows to add renewed potential to these vessels.

Once they have received their new mine countermeasures vessels, it is possible that the Belgian, Royal Netherlands and French navies, currently using tripartite mine countermeasures vessels, sell their old vessels to different interested navies. ECA Group can then propose to modernise these pre-owned vessels and equip them with the modern and effective UMISTM mine countermeasure system.

The UMISTMToolbox can also be installed on other models of conventional mine countermeasures vessels or on ships that are not used for mine countermeasures. ECA Group will offer this modernisation solution to all navies that intend to keep and optimise their conventional mine countermeasure vessels or consider the acquisition of pre-owned vessels.

 

 
 
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Forward looking-statement

This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.

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.

 

 


 

ECA Group

 

Recognized for its expertise in robotics, automation systems, simulation and industrial processes, 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 2019, the Group reported revenue of €112.5 million across its three divisions: Robotics, Aerospace and Simulation.

 

ECA Group is a Groupe Gorgé company.

 

The ECA Group is listed on Euronext Paris Compartment C.

ISIN Code: FR0010099515 | Ticker Code: ECASA – Bloomberg Code: ECASA

 

Contacts

Press

Meliha BOUCHER

Marketing, Communication and Press Director

T: +33 (0) 4 94 08 90 00

boucher.m@ecagroup.com

 

Manon CLAIRET

Financial Press Relations

T: +33(0)1 53 67 36 73

mclairet@actus.fr

 

Investors

Elodie ROBBE-MOUILLOT

Analyst/Investor Relations

T: +33 (0)1 44 77 94 77

investors@groupe-gorge.com

 

Anne-Pauline PETUREAUX

Individual Shareholder Relations

T: +33 (0)1 53 67 36 72

apetureaux@actus.fr


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  Original Source: ECA