26.07.08

Funkwerk wins further major contract

Fuerth, July 26th: Funkwerk plettac electronic GmbH has just been commissioned to provide the biggest Algerian oil and gas company with a turnkey security system for property protection. The relevant contract was signed today in Algier, generating a total of around 30 mill. Euro. The project involves the provision of equipment for intrusion protection, access control and management, and video monitoring. The contract specifies Funkwerk plettac as the general contractor responsible for the planning, supply, installation and commissioning of the overall system. The work is due to start as early as in the fourth quarter of 2008, with the lion’s share of it affecting sales and net income in 2009. This latest large-scale project is already the third undertaking of Funkwerk plettac for the oil and gas industry in Algeria since 2006. In terms of oil and gas supply, the market opportunities are said to be excellent for Funkwerk plettac as the company has many years of experience in similar projects and is proficient in the special technology required for explosion protected and dust proof systems. The project provides Funkwerk plettac with a significant competitive edge and puts the company in a good position to win further contracts in major international tenders for security systems for property protection in the medium term.

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