ECA SA

01/09/2020 | Press release | Distributed by Public on 01/09/2020 07:38

ECA GROUP WILL BUILD ITS PLANT IN OSTEND TO MANUFACTURE THE NAVAL DRONES FOR MINE CLEARANCE

ECA GROUP WILL BUILD ITS PLANT IN OSTEND TO MANUFACTURE THE NAVAL DRONES FOR MINE CLEARANCE

09 Jan 2020 14:30 CET

Company Name

ECA

ISN

FR0010099515

Market

Euronext

Symbol

ECASA

ECA Group, an expert in robotics, automated systems, simulation and industrial processes, will build its new plant in the port of Oostende in order to carry out the contract to supply their unmanned systems for the 12 minesweepers of the Belgian and Dutch navies.

In 2019, the Dutch and Belgian navies decided to award the supply of 12 minesweepers (6 for each country) and the dedicated unmanned systems for mine clearance at sea to the consortium Belgium Naval & Robotics, set up by Naval Group and ECA Group. Many Belgian companies are involved in this nearly 2 billion contract as partner and supplier. Subsidiaries have been created in Belgium by the two companies to facilitate these exchanges.

The company ECA Robotics Belgium, the Belgian subsidiary of ECA Group, will manufacture the next generation of naval drones for this contract but also for future export sales, at its plant in Ostend. It concerns disruptive technologies that are the core of the innovative 'stand-off' mine hunting concept that Belgium Naval & Robotics proposes to the 2 navies, both world leaders in the field of mine counter measures: The mother ship and therefore its crew, stay away from the danger zone. The unmanned systems clear the mines autonomously and are controlled from the mother ship.

These unmanned systems will be manufactured in a new factory to be built in Ostend. PORT OSTENDE grants ECA Group a concession for the building of the factory on the former site of Beliard in the port area. The plant with a surface of 5000 m² will be built on this location and will be operational in 2022.

The investment for the construction of the factory and the start of production represents around €10M. All the naval drones (submarines and surface) of ECA group to be delivered to the Belgian and Dutch navies will be produced in this factory: the submarine drone (AUV) A18-M, the towed sonar T18-M, the surface drone (USV) INSPECTOR 125 and the mine inspection and neutralization drones (ROV MIDS) Seascan and K-STER and launch & recovery systems drone-drone as well as surface equipment.

'In parallel with the construction of our plant, ECA Group is looking for various profiles (including engineers) for the two Belgian sites of its subsidiary ECA Robotics Belgium: Hainaut in Wallonia where the design office and the headquarters will be established, and Ostend in Flanders to support plant operations. We are mainly looking for technical staff and workers for our site in Ostend. The plant is expected to employ over 70 staff in 2-3 years' time. 'explains Steven Luys, general manager of ECA Robotics Belgium.

Since its establishment in 1936, ECA Group has been a leader in the field of innovation and develops innovative technological solutions for the detection and clearance of mines. To date, over 30 navies worldwide use these solutions to make waterways safer. 'We are pleased to build our factory in the Port of Oostende, near the navy and with direct access to the North Sea. 'states Steven Luys.

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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 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.

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 2018, the Group reported revenue of €102.1 million across its three divisions: Robotics, Aerospace and Simulation.

ECA Group is a Groupe Gorgé company.

The ECA Group is listed on Euronext Paris Compartment C.

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

Contacts

Press

Meliha BOUCHER

Marketing, Communication and Press Director

T: +33 (0) 4 94 08 90 00

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Manon CLAIRET

Financial Press Relations

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Investors

Elodie ROBBE-MOUILLOT

Analyst/Investor Relations

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Anne-Pauline PETUREAUX

Individual Shareholder Relations

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Full and original press release in PDF: https://www.actusnews.com/news/61650-eca_group_will_build_its_plant_in_ostend_to_manufacture_the_naval_drones_for_mine_clearance.pdf

61650_FR0010099515.pdf

Source

ECA

Provider

ActusNewsWire