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Tekmar Group PLC - Darlington, County Durham-based offshore energy services firm - Wins ‘significant’ contract for an offshore wind farm project in Japan for an undisclosed sum. The contract is to be delivered in 2023. Tekmar says the contract will provide an integrated engineering solution, including Cable Protection Systems and Cable Hang-Off Clamps. The company, which recently launched a formal sales process, saying the award is an ‘important strategic milestone’.
Chief Executive Officer Alasdair MacDonald says: ‘We are pleased to be announcing this significant contract award, which represents an important strategic milestone as we extend our geographical reach into the Japanese offshore wind market. We also see this recent contract momentum as an important indicator that the level of market activity is improving and are also pleased to update that we had a strong cash collection towards the end of our June quarter.’
Current stock price: 12.25 pence, doubled from previous close of 6.10p
12-month change: down 77%
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