SRT is pleased to announce that it has received an order worth $3.7 million from an existing customer. The order is for the company’s recently launched Identifier product and will be delivered to the customer in two batches before the end of December 2012, with SRT being paid after each delivery. Rapid manufacture and delivery of the first batch will be facilitated by a strategic stock of components purchased earlier in 2012.
The ultimate customer for the Identifiers is a government in the
Americas and the order of $3.7 million represents approximately one
fifth of their estimated total requirement which is expected to be
ordered during the course of the next three years. The exact schedule
for further orders to complete the fleet rollout is dependent on the
actual speed of installation across the target vessel fleet.
The Identifiers are being deployed as part of a regional maritime
security program and will enable authorities to reliably and accurately
identify and track vessels along thousands of miles of coastline. The
Identifier provided the ideal solution for the end customer due to its
fully integrated design, advanced core AIS technology and ease of
deployment due to its internal battery power source.
Commenting on the contract win, SRT Chief Executive Simon Tucker,
said: “This is one of many significant project type opportunities on
which we have been working with our partners for many years. These are
huge projects which take time for all the various logistics, legal and
commercial issues to be settled. But as can be seen from the size of
this single order and the scale of the total requirement for this single
market it is well worth the effort and wait. We will now focus on
manufacturing and delivering the Identifiers that this customer has
ordered, whilst continuing to address the many other project
opportunities and growing our core everyday commercial and leisure