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  GROUPE GORGE company press release from 18/06/2018

  18/06/2018 - 18:30

ECA Group raises its submarine equipment activities - static converters supply to several Navies for EUR 6 million



ECA Group, a Groupe Gorgé company, announces it has been awarded a contract to supply static converters in South America.
 

This contract covers the supply of 16 units of static converters to the shipyard SIMA and Peruvian Navy to be replaced on four type-U209 v.1200 submarines. This project of modernization, staggered over almost seven years for four submarines, will allow the Peruvian Navy to keep for another fifteen years its current submarine force, particularly in the expectation of a project of acquisition of new generation submarines around 2035.

ECA Group's submarine applications activities have significantly increased over the past 18 months. In 2017, ECA Group has been awarded two contracts to equip two South East Asian navies with Static Converters. With this new South American award from the Peruvian Navy, nine submarines (with an option for two more) from various submarines building companies, will be equipped with up to date ECA Group's solutions combining high technical level and competitiveness as all of these contracts were won on a competition basis.

The three contracts worth around €6 million in total, the latest contract being the largest. The delivery of these converters is scheduled for the next four years.

ECA Group solutions for submarine power conversion have now a key place on the submarine market, being compatible for any submarine design type. The technical characteristics of ECA Group Energy Conversion solutions have been appreciated by several navies. Based on sea proven solutions, integrating the latest technology, delivering high efficiency performance in a package compatible with the harshest environment conditions aboard a submarine, ECA Group solutions are now a world reference.

ECA Group is anticipating Future Submarine Program in Australia for which these references shall make mark of interest. ECA Group and Thycon have signed a MoU to join their skills on this project (see news published on 9th October 2017). In parallel, ECA Group is proposing these solution to French MoD for the future submarine program.
 

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.
 

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About Groupe Gorgé

Founded in 1990, 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 3D printers, premium material, software and 3D printed parts.

In 2017, the Group reported revenue of €276.7 million. It is backed by 2,000 employees and operations in over ten countries.
 

More information available on www.groupe-gorge.com
 

Groupe Gorgé is listed on 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