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  ECA 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 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.

ECA Group range of static converters is a suitable energy conversion solution for harsh environments such as inside submarines and can be dismantled into sub-assemblies for convenient installation. They convert DC voltage into AC with power up to 60kVA, or DC to DC yielding up to 125kW. Our converters provide local and remote control and monitoring. They have been designed with electrical and thermal protections for equipment and operator safety.

 

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The ECA Group

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 €109.0 million across its three divisions: Robotics, Aeronautics 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

The ECA Group

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 2016, the Group reported revenue of €112.5 million across its three divisions: Robotics & Integrated Systems, Aeronautics and Simulation.

The ECA Group is a Groupe Gorgé company.

The ECA Group is listed on Euronext Paris Compartment C.

Indexes: SBF 250, CAC SMALL 90 and CAC IT- ISIN Code: FR0010099515

Ticker Code: ECASA - Bloomberg Code: ECASA:FP
 

Contact

ECA Group

Raphaël GORGE

Chairman

Tel: +33 (0)1 44 77 94 80

Guénaël GUILLERME

Chief Executive Officer

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

ECA Group

Raphaël GORGE

Chairman

T : +33 (0)1 44 77 94 80
 

Actus Finance

Anne-Pauline PETUREAUX

Analysts / Investors

Relations

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

apetureaux@actus.fr

Jean-Michel MARMILLON

Press Relations

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

jmmarmillon@actus.fr

 

Disclaimer

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. 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.