At the occasion of EURONAVAL, Naval Group and ECA Group signed a letter of intent for a contract worth more than €12 million for the supply of electrical equipment (electric propulsion and variable speed drives), as well as associated a spare parts, for submarines 5 and 6 of the Barracuda program, led by French Defence Procurement Agency (DGA). The contract will run for 53-month period and will end in 2023.
Resulting from contracts successfully completed for the first four submarines of the program (Suffren, Duguay-Trouin, Tourville and De Grasse), this contract reinforces the position of ECA Group as supplier of electrical solutions for submarines and secures the supply of important equipment for the Barracuda program.
see press release of 06/18/2018) position ECA Group for next tenders of the future 3rd generation nuclear ballistic missile submarines and the Australian submarines programs.
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 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.
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 €112.0 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
T : +33 (0)1 53 67 36 72
T : +33(0)1 53 67 36 73
T : +33 (0)1 44 77 94 80
T : +33 (0)4 94 08 90 00