Cavotec has won two fuelling orders worth more than EUR 5 million, confirming its position as a preferred supplier of advanced systems for the global aviation fuelling market. The new orders include the manufacture and supply of 100 aviation fuelling pits for two installations, one in the US and one in Europe.
Cavotec's current order book for fuelling systems indicates an increased global market share to approximately 50 per cent of a market estimated to be worth EUR 50 million on an annual basis. The Group's increasing market share and expanding fuelling base is set to further benefit from after-sales service support to the segment.
Mikael Norin, CEO, says; "As the preferred supplier for a large number of critical applications worldwide, Cavotec provides the build quality and unique engineering know-how to meet the exacting specifications of the world's most demanding fuelling applications and environments. We continue to build on our successful track record to further expand our market share in this growing segment."
Cavotec manufacturers a comprehensive range of innovative aviation utility systems that ensure aircraft are serviced safely, efficiently and sustainably. Design and manufacturing of the Group's fuel pits takes place in Stockton-on-Tees in the UK and in Cypress, California, in the US.
ENDS
For further details please contact:
Johan Hähnel
Investor Relations Manager
Telephone: +46 70 605 63 34
Email: investor@cavotec.com
This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CEST on 30 March, 2020.
About Cavotec
Cavotec is a leading engineering group that designs and manufactures automated connection and electrification systems for ports, airports and industrial applications worldwide. Cavotec's innovative technologies ensure safe, efficient and sustainable operations. To find out more about Cavotec, visit our website at cavotec.com.
Attachment
- Press release 30 March 2020 (https://ml-eu.globenewswire.com/Resource/Download/3ae847c9-50a4-41e6-b0d8-720e09f2f150)
