Ricardo announces preferred b

RNS Number : 1371T

Ricardo PLC

22 September 2010

 



22 September 2010

Ricardo plc

Ricardo announces Preferred Bidder confirmation from UK MoD

Ricardo plc ('Ricardo' or 'the Company') - a market leading engineering and automotive consultancy, is today announcing that the Ocelot Light Protected Patrol Vehicle, designed by Ricardo for Force Protection Europe has been awarded preferred bidder status by the UK MoD for the Light Protected Patrol Vehicle Programme.   

Ricardo's automotive design experience played a key role in the design and development of the Ocelot which makes the protection of the crew its first priority with its innovative V-shaped armoured spine that deflects a potential blast away from the vehicle.

Dave Shemmans CEO of Ricardo said:

"This is a significant step forward for our technical business and in the defence sector where we are playing a larger role in the research and design of ground vehicles to increase mobility, protection and power density whilst improving fuel economy. This award would benefit primarily the Financial Years 2011 and 2012 and further improves Ricardo's diversification and risk mitigation strategy.  At this stage it is premature to quantify the benefit as detailed negotiations are yet to conclude on the programme."

Ricardo will announce its preliminary results for the twelve month period ending 30 June 2010 on 28 September 2010.

Further enquiries:

Ricardo plc
Dave Shemmans, Chief Executive	Tel:	01273 455611
Paula Bell, Group Finance Director
Website: www.ricardo.com
Kreab Gavin Anderson	Tel:	0207 074 1800
Fergus Wylie
Michael Turner
Matthew O'Leary

 

END

 

 

MSCPGURWBUPUGCP