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  GROUPE GORGE company press release from 12/07/2017

  12/07/2017 - 18:00

ECA Group awarded a significant contract for French Navy's PAP subsea demining robots


ECA Group, a subsidiary of Groupe Gorgé, has been awarded is pleased to announce that a new 5- years contract was awarded by the French Ministry of Armed Forces for the supply ofing consumables for French Nnavy's PAP demining ROVs (Remotely Operated Vehicles). The amount of this contract will be over €4M€ and up to a maximum of €8 M€ depending on utilization frequency. In 1977, ECA Group delivered the very first mine disposal vehicles PAP to the French Navy. In 2017, forty years later, they are still in service with support from ECA Group.

The logistical support and supplying supply of spares and consumables is an important part of the activity in naval robotics. Sea environment is extremely demanding for equipment and systems and the level of maintenance is very important all along their life especially for subsea drones. Beyond the French Navy, ECA Group proposes a day to day support of its various equipment and systems which are deployed in more than fifteen navies around the world. As an average, logistic support represents 25 to 30 % of naval robotics activity.

The French demining PAPs will remain in activity till the mid 2020's.They will be progressively replaced with the delivery of the future demining systems that the French Navy will order in the coming years after the results of MMCM FR/UK evaluation program.

ECA Group, which is one of the major players within MMCM FR/UK program, is highly involved in R&D for the future maritime systems of drones. In June 2017, ECA Group had a very successful demonstration of its Unmanned Mine Counter Measure Integrated System (UMIS) to the Belgium and Netherland Navies which plan to replace their conventional minehunters with systems of drones a few years before French Navy.

Involving simultaneously AUVs (Autonomous Underwater Vehicles, such as A9-M and A18-M), USVs (Unmanned Surface Vehicle, such as INSPECTOR Mk2) and demining ROVs (such as SEASCAN and K-STER C), ECA Group demonstrated its advanced capabilities for Unmanned Maritime Vehicles (UMV) real time cooperation and proved that, thanks to advanced processing embarked in the vehicles, its drones system is the most integrated and advanced on the market.

The UMIS is a very flexible system ECA Group proposes in various configurations. It can be deployed on dedicated Mine Counter Measure Vessels (MCMV), as well as containerized to be embarked on ship of opportunity or directly from the shore in its road transportable configuration for harbor and coastal protection.

PAP MK6 is a self-propelled ROV dedicated to mine warfare with a high carrying capacity (NATO Mine Disposal Charge, Cutter). A robust and reliable design with high powered propulsion enables to manoeuver in strong current and to withstand harsh environmental conditions. User friendly command and control software offers auto piloting functions.



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

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. It employs around 1,700 people, is located in eight countries and directly exports around 40% of its activity. 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 1,800 employees and operations in over ten countries.

More information available on www.groupe-gorge.com


Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.

Euronext Paris:
Compartment B.
ISIN code: FR0000062671
Ticker code: GOE
US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF



Contact

Groupe Gorgé - Raphaël GORGÉ – CEO & Chairman - Tel.: +33 1 44 77 94 77 - E-mail: [email protected]

Actus Finance News – Natacha MORANDI – Analysts/Investors Relations - Tel.: +33 1 53 67 36 94 - E-mail: [email protected]

Actus Finance News – Jean-Michel MARMILLON – Press Relations - Tel.: +33 1 53 67 36 73 - E-mail: [email protected]


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  Original Source: GROUPE GORGE