Business
New Contract Award and Trading Update
New Contract Award and Trading Update.
About this update from Pennant International Group Plc
[{"type":"text","content":"\n \nRNS Number : 3366B Pennant International Group PLC 16 June 2016 \n\n \n \n16 June 2016\n \nPennant International Group plc\nContract Award and Trading Update\n \nSecond Contract Award from Lockheed Martin Mission Systems Corporation in H1 2016\n&\nTrading in both 2016 and 2017 now expected to exceed current market expectations\nPennant International Group plc (\"Pennant\"), the Aim quoted supplier of integrated logistic support solutions, products and services, principally to the defence, rail, aerospace and naval sectors and to Government Departments, is pleased to announce that its wholly owned subsidiary, Pennant Training Systems Limited, has been awarded a further contract with Lockheed Martin Corporation MST (LMC) the majority of which is scheduled for delivery in 2017. This follows the award of a contract for the development of training for aircrew and engineering staff announced on 5 February 2016 with an initial value of £0.2 million with an option for additional works which, if exercised by the LMC, would increase the aggregate value of the contract to in excess of £2.2 million.\nThe new contract is to provide a Rotary Wing Rear Crew Winch Trainer (RCWT) in support of Rear Crew Training for the United Kingdom Military Flight Training System (UKMFTS). The RCWT is a representative cabin of the Maritime Advanced Rotary Training Aircraft and will support all aspects of Winch Operator training.\nPennant's CEO Chris Snook said \"This is a significant second contract win for Pennant from the Lockheed Martin Corporation this year. It represents very important repeat business from one of the world's leading aerospace and defence contractors and is proof positive of the ...