Actusnews Wire - Professional broadcaster of corporate and regulated information, authorised by the AMF and the CSSF.

  GROUPE GORGE company press release from 15/02/2018

  15/02/2018 - 07:00

ECA Group - Petrus: Significant Partnership and Positioning in Subsea Robotics Services (AUVs and ROV) for the Oil and Gas Market


ECA Group, a Groupe Gorgé company, and Petrus announce today the signing of a cooperation agreement for subsea robotics services to oil companies.

Based in Brazil, West Africa, and South East Asia, Petrus is a global Oil & Gas services group employing approximately 400 people.

After evaluating the market since June 2017, the parties have entered into a partnership agreement to offer the Oil & Gas sector inspection and survey services using an Autonomous Underwater Vehicle: the A18D AUV.

The A18D AUV is designed and manufactured by ECA Group, to dive up to 3000m depth and work autonomously for 24 hours. It can carry out inspection and 3D mapping missions, revealing seabed conditions before or after construction / installation of an underwater structure, pipeline or cable and also before, during and post decommissioning of subsea installations.

As part of this contract, ECA Group will lease the AUV to Petrus, while also providing operational support. Petrus, with its solid experience in the Oil & Gas market, will carry out and coordinate missions from preparation to data processing and delivery of results to the customer.

This partnership guarantees to ECA Group a cumulative turnover of € 6 million over the next four years, which can increase according to the rate of use of the underwater robot. Depending on the commercial success, additional A18D AUVs could be commissioned as part of this partnership.

Finally, it can be extended to other robots in the ECA Group range such as A9 type portable AUVs (A9-S or A9-E) or ROVING BAT ROV cleaning and inspection ROVs according to the needs.

The use of autonomous underwater drones is a growing demand within the Oil & Gas industry, first because they significantly reduce the cost of operations compared to traditional processes that require larger and more expensive vessels as well as longer durations for a given operation and second because they provide superior data quality.

This agreement is the largest ever signed by ECA Group for its AUVs in the Oil & Gas sector. It is the result of R&D efforts that ECA Group has been conducting for several years in this sector.

Discover ECA Group's A18D solution: https://youtu.be/Ufir2MrZBVM

Next financial release:

Publication of 2017 revenue on February 23, 2018 before stock market opening

Disclaimer

GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and supply chain 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), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.

This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in GROUPE GORGE or in its listed subsidiaries in any country whatsoever.

Follow us on Twitter for live updates
from Groupe Gorgé!

@GroupeGorge

About Groupe Gorgé

Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.

Smart Safety Systems:

Developing complete, innovative technological solutions for complex missions in hostile and confined environments.

Protection of High-Risk Installations:

Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.

3D Printing:

Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.

In 2016, the Group reported revenue of €281.2 million. It is backed by 1,900 employees and operations in over ten countries.

More information available on www.groupe-gorge.com

Groupe Gorgé is listed on Euronext Paris.

Euronext Paris:

Compartment B.

ISIN code: FR0000062671

Ticker code: GOE

Contact

Groupe Gorgé - Raphaël GORGÉ – CEO & Chairman - Tel.: +33 1 44 77 94 77 - E-mail: contact@groupe-gorge.com

Finance News – Anne-Pauline PETUREAUX – Analysts/Investors Relations - Tel.: +33 1 53 67 36 72 - E-mail: apetureaux@actus.fr

Finance News – Jean-Michel MARMILLON – Press Relations - Tel.: +33 1 53 67 36 73 - E-mail: jmmarmillon@actus.fr