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GROUPE GORGE (EPA:GOE) ECA Group wins a contract worth more than 20 million euros for the modernisation of mine countermeasures vessels to be equipped with its UMIS unmanned system

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28/09/2020 08:00

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Following an international contest, ECA Group has been awarded a contract worth more than 20 million euros for the modernization of three mine countermeasures vessels belonging to the Latvian navy and equipped with conventional mine countermeasures vessels acquired from the Royal Netherlands navy in 2006. These vessels require a modernisation of their mine hunting system. These vessels will be delivered with a Mine Warfare Data Center successively in 2021, 2023 and 2024.

This new success follows the contract won in 2019 in consortium with Naval Group, Belgium Naval & Robotics, for the supply of the unmanned system (Toobox) UMISTM (Unmanned Mine Countermeasures Integrated System) to the Belgian and Dutch navies for an amount of approximately 450 million euros; the first contract in the world for new ships equipped with a Toobox, representing a technological leap in the field of underwater mine clearance.

Under this contract, ECA Group will provide the Latvian navy with an innovative solution for the modernisation of its existing mine countermeasures vessels, replacing the conventional detection system based on a hull sonar for mines with a smaller unmanned system consisting of the underwater drones AUV A18-M for detection and underwater robots Seascan MK2 and K-STER C for identification and clearance of the mines. ECA Group will modify the vessels with the support of its subsidiary Mauric, specialized in naval architecture, and Latvian partners, in order to install these modern mine countermeasures systems. At the end of the contract, the Latvian Navy will thus be able to carry out underwater mine clearance operations without the ship entering the minefield (Stand-Off concept).This contract, like all mine warfare contracts, will entail maintenance and sales of consumable over a period of 10 to 20 years.

The Latvian navy will acquire a compacte version of the UMISTM system. As ECA Group's UMISTM system is scalable, in the future, the marine will be able to supplement its unmanned system progressively, depending on its needs, while maintaining the compatibility with the existing, modernised equipment and new, integrated drones.

While many navies will be buying new mine countermeasures vessels equipped with a Toolbox in the coming years, many of them have mine countermeasures vessels with a lifespan that can be increased or will acquire pre-owned ones. The latter might be interested in modernisation solutions allowing them to benefit from the high-performance level of the latest drones and to switch to the Stand-Off mine countermeasures operations enhancing the security for the crews and the ship.

With this contract, ECA Group is growing on a new market: renovation of mid-life mine countermeasures systems on ships. In the case of Latvia, it concerns the Alkmaar tripartite mine countermeasures vessel acquired from the Royal Netherlands navy. The solution chosen by Latvia allows to add renewed potential to these vessels.

Once they have received their new mine countermeasures vessels, it is possible that the Belgian, Royal Netherlands and French navies, currently using tripartite mine countermeasures vessels, sell their old vessels to different interested navies. ECA Group can then propose to modernise these pre-owned vessels and equip them with the modern and effective UMISTM mine countermeasure system.

The UMISTM Toolbox can also be installed on other models of conventional mine countermeasures vessels or on ships that are not used for mine countermeasures. ECA Group will offer this modernisation solution to all navies that intend to keep and optimise their conventional mine countermeasure vessels or consider the acquisition of pre-owned vessels.

 

About Groupe Gorgé

Founded in 1990, Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector.

 

Smart Safety Systems:

Developing complete, innovative technological solutions for complex missions in hostile and confined environments.

 

Protection of High-Risk Installations:

Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.

 

3D Printing:

Enabling major industry players to find new routes to successful innovation and production processes by providing 3D printers, premium material, software and 3D printed parts.

 

The Group reported revenue of €274,6 M in 2019. It is backed by close to 1,800 employees and operations in 7 countries.

 

Groupe Gorgé is listed on Euronext Paris compartment B

ISIN: FR0000062671

Ticker: GOE

 

More information on

www.groupe-gorge.com

 

Investor contacts:

Elodie Robbe-Mouillot

Investor/analyst relations

Tel : +33 1 44 77 94 77

E-mail : investors@groupe-gorge.com

 

Anne-Pauline Petureaux

Shareholder relations

Tel: +33 1 53 67 36 72

E-mail: apetureaux@actus.fr

 

 

Press contacts:

Manon Clairet

Financial press relations

Tel: +33 1 53 67 36 73

E-mail: mclairet@actus.fr

 


Forward Looking Statement

Groupe Gorgé press releases may contain forward-looking statements regarding Groupe Gorgé's targets. These forward-looking statements reflect Groupe Gorgé's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and 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 Universal registration document (including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.

 

This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in Groupe Gorgé or in its listed subsidiaries in any country whatsoever.



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Full and original press release in PDF: https://www.actusnews.com/news/65250-groupe-gorge-_eca-20-m-euros-contract.pdf

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