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Tekmar Group PLC on Monday said two new contracts have been signed, evidencing the strength of the company’s varied energy market offerings. The Darlington, England-based company is a technology and services provider for global offshore energy markets. Its subsidiary, Pipeshield International Ltd, was awarded a £4 million contract to manufacture and supply concrete mattresses and sleepers to support subsea pipelines, rock bags, and lifting equipment rental with deliveries scheduled for the financial year ending September 30. In addition, Tekmar’s offshore wind business has secured a £2 million deal with an offshore wind contractor for the design and supply of its flagship cable protection system and associated ancillaries. An agreed delivery date for the system is planned for September 2025. Chief Executive Officer Alasdair MacDonald said: ‘These contract wins highlight a number of the themes we outlined in our recent results: we are continuing to secure contract volume on more favourable terms and our pipeline and enquiry book remains healthy across the group.’ These latest contracts support an order intake of £23 million in the financial year to date. Tekmar shares were up 12% to 9.85 pence each in London on Monday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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