Business
Finalised Contract Award with MoJ for approx ?34m
Finalised Contract Award with MoJ for approx ?34m.
About this update from Solid State Plc
[{"type":"text","content":"\n \nRNS Number : 2288O Solid State PLC 05 August 2014 \n \n\n \n5 August 2014\n \nSolid State plc\n(\"Solid State\" or the \"Group\")\n \nContract Award with MoJ\n \nFurther to its announcement on 15 July 2014, Solid State plc (AIM: SSP), the AIM listed supplier of specialist industrial/ruggedised computers, electronic components, secure communications systems and battery power solutions to the electronics market, announces that its largest division, Steatite, has now finalised contract terms with the Ministry of Justice (MoJ) to supply monitoring hardware for GPS offender tagging. \n \nThe contract for the supply of monitoring hardware is expected to have a value of approximately £34 million over the three year minimum contract period. It is anticipated that Steatite will be supplying initial products to the MoJ by the calendar year end. Quantities to be delivered are then expected to progressively increase over the contract term. The contract is not expected to have a significant impact in the current financial year as most deliveries are expected to take place in financial years ending 31 March 2016 and 2017. The final deliveries will fall in the first half of financial year ending 31 March 2018. It is expected that the gross margins on the contract will be in line with the gross margins normally achieved by Steatite on its larger contracts.\n \nCommenting on the contract award, Gary Marsh, Chief Executive of Solid State, said: \n \n\"This is a landmark contract for the Group and our largest to date. It marks the culmination of three years development work by Steatite and suitably illustrates the scale and complexity of the contracts that we are increasingly tendering for. I would like to congratulate John Lavery and his team for securing this high profile contract.\"\n \n \nFor further information please contact:\n \n\n\n\n\nSolid State plc \n\n\n01527 830 630\n\n\n\n\nGary Marsh - Chief Executive\n\n\[email protected] \n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland (Nominated Adviser)\n\n\n0117 945 3470\n\n\n\n\nMike Coe\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\nWinningtons (Financial PR) \n\n\n020 3176 4722\n\n\n\n\nTom Cooper/Paul Vann\n\n\n0797 122 1972\n\n\n\n\n \n\n\nto...