Following the announcement of the first conditional stage, the Franco-British underwater mine countermeasure (MMCM) programme, supervised by OCCAR on behalf of French Defence Procurement Agency (DGA) and UK Defence Equipment & support (DE&S) through the joint project management of Thales/BAE, begins its manufacturing phase.
ECA Group has already taken part in designing the system during the initial design phase (cf. press release of April 10, 2015).
During this new stage, ECA Group will supply six autonomous underwater vehicles (AUV) derived from the A27-M as well as other peripheral equipment.
The A27 is the largest AUV in the range offered by ECA Group. Its A27-M version, equipped with a multi-aspect synthetic aperture sonar (SAM) supplied by Thales and additional sensors also capable of detecting contacts in the water column, is specifically designed for detection, classification and localisation operations in underwater mine-hunting missions. Equipped with a specific means of communication, these A27-Ms can be deployed individually or in “Pack” mode.
In this stage, ECA Group will also supply a launch and recovery system (LARS) used to deploy and recover these AUVs in challenging sea conditions.
Equipped with a unique, patented system aiming at detecting and grabbing a recovery cable, the A27 is able to autonomously come back in the LARS
deployed by the mothership, significantly limiting human intervention and preventing crew members from being exposed to danger.
The amount of this conditional stage is over 15 million euros. The robots must be delivered within a short period of time. The main part of the sales figure will therefore be entered in fiscal year 2017.
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 possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight 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-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
Some of these risk factors are set forth and detailed in our Document de Référence (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. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
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About Groupe Gorgé
Established in 1990, Group Gorgé is an industrial group operating in different areas of expertise:
Smart Safety Systems – Using technology to work in risk environments;
Protection in Nuclear Environments – Protecting people and securing buildings operating with radioactive materials;
Industrial Projects & Services Conducting Robotics and Fire protection systems projects for industry and service-sector player;
3D Printing – Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2015, the Group reported revenue of €264.5 million. It is backed by 1,536 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
isin code: FR0000062671
Ticker code: GOE
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CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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