ECA: ECA Group wins a new around EUR 20 million contract in naval mine countermeasures

Toulon, May 4^th 2020, 6:00 p.m.

ECA Group has been awarded a significant export contract to modernize robots dedicated to naval mine warfare.

This contract, worth around € 20 million will last over 48 months and will allow to modernize the mine clearance capacities of the customer, a Navy, in order to improve their performance against sea mines. The evolution of the mine threat in maritime areas is a current and growing concern for many countries.

For 50 years, ECA Group has been supplying navies all around the world with unmanned systems for underwater mine clearance. The contract awarded in 2019 by the Belgian and Netherlands navies, for the renewal of their mine countermeasure capacities with innovative drone systems, has confirmed ECA Group's innovation capacity over the decades.

This new modernization contract confirms ECA Group's capacity to push forward existing underwater mine clearance systems and bring them closer to the performance of the most recent ones. ECA Group is particularly proud of the trust placed in its expertise and solutions by navies worldwide. A trust renewed by this client already equipped with ECA Group drones for several decades.

Follow us:

Visit our website to follow our News & events

Forward looking-statement

This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.

Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties mentioned in the press release; the strength of competition; the continuing growth of the market; currency fluctuations; interest rate fluctuations; raw material price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain and manufacturing bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).

Some of these risk factors are set forth and detailed in our Universal registration document including the annual financial report filed with the French Autorité des Marchés Financiers. This list of risks, uncertainties and other factors is not limitative. Other non- anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets.

ECA Group

Recognized for its expertise in robotics, automation systems, simulation and industrial processes, ECA Group has been developing complete, innovative technological solutions for complex missions in hostile and confined environments since 1936. Its product offering is designed for an international client base that is demanding, both in terms of safety and effectiveness. The Group's main markets are in the defense, maritime, aeronautics, simulation, industrial and energy sectors.

In 2019, the Group reported revenue of €112.5 million across its two divisions: Robotics and Aerospace.

ECA Group is a Groupe Gorgé company.

The ECA Group is listed on Euronext Paris Compartment B.

ISIN Code: FR0010099515 | Ticker Code: ECASA - Bloomberg Code: ECASA

Contacts

Press

Meliha BOUCHER

Marketing, Communication and Press Director

T: [phone]

[e-mail]

Manon CLAIRET

Financial Press Relations

T: [phone]

[e-mail]

Investors

Elodie ROBBE-MOUILLOT

Analyst/Investor Relations

T: [phone]

[e-mail]

Anne-Pauline PETUREAUX

Individual Shareholder Relations

T: [phone]

[e-mail]

------------------------This publication embed "Actusnews SECURITY MASTER".
- SECURITY MASTER Key: m22fZpltaZecnm9xZcuWZpRrbmeVxWjKm2HKnGFqk8fFb52TnZlnbZzLZm9kmGht
- Check this key: https://www.security-master-key.com.------------------------Full and original release in PDF format:
https://www.actusnews.com/documents_communiques/ACTUS-0-63337-eca-group-wins-a-new-contract-worth-around-euro-20m-in-naval-mine-countermeasures.pdf
© Copyright Actusnews Wire
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free