GROUPE GORGE : ECA Group awarded a contract for two Underwater Survey and Mine Counter Measures AUVs A9-M

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ECA Group, subsidiary of Groupe Gorgé, has been awarded a new contract for the delivery of two man portable Autonomous Underwater Vehicles (AUVs) A9-M for an amount over 1 million Euros. Successfully used by the French Navy and several others since 2013, the A9-M will quickly join a NATO Navy.

This AUV solution developed by ECA Group, is specifically designed for underwater survey and in particular for the Mine Counter Measure operations in shallow and medium water.

A9 can be used as a standalone system with its own mission management software.

It can also be integrated in a more comprehensive robotic system able to fulfill all the Mine Counter Measures operations. This MCM robotic package, fully developed by ECA Group, combines:

- A9-M AUV for high performance Mine detection and classification,
- SEASCAN MK2 ROV for Mine Identification,
- K-STER C for Mine neutralization,
- UMIS (Unmanned Mine Counter Measure Information System): a Mission management system dedicated to MCM.

Thus, A9 range, designed in 2012, integrates the latest AUV technologies in addition to ECA Group's 50 years of experience in robotics. Thanks to their modular design, they can be equipped with various payloads and used for different applications such as mine detection and classification, seabed coastal and harbor surveillance.

A good level of activity shown during the second half
The signing of this new contract complements the significant order intake since the beginning of the second half announced at the 2015 interim results. The Group would point out that two contracts for protecting ships against underwater mines were won in Asia by the Robotics and Embedded Systems division of ECA Group. These two contracts, totaling in the region of €25 million, will be fulfilled in 2016 and 2017.

Disclaimer
 

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 2014, the Group reported revenue of €223.3 million. It is backed by 1,370 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.

NYSE Euronext Paris:

Compartment B.

ISIN code: FR0000062671
Ticker code: GOE
 

US OTC market:

CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
 

Contacts

Groupe Gorgé - Raphaël GORGÉ – Président Directeur Général - Tél. : 01 44 77 94 77 - E-mail : contact@groupe-gorge.com
Actus Finance - Anne-Pauline PETUREAUX - Relations Analystes/Investisseurs - Tél. : 01 53 67 36 72 - E-mail : apetureaux@actus.fr
Actus Finance – Jean-Michel MARMILLON - Relations Presse - Tél. : 01 53 67 36 73 - E-mail : jmmarmillon@actus.fr


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