New Distributor Agreement

RNS Number : 9765U

SRT Marine Systems PLC

03 April 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

New Distributor Agreement

SRT Marine Systems plc ('SRT'), a global provider of maritime domain awareness systems and technologies for security, safety and environmental protection is pleased to advise that its em-trak Marine Electronics ('em-trak') transceivers division has signed a distributor agreement with CWR Distribution in the USA.

The agreement is for the distribution of the full range of em-trak products to include the current portfolio of AIS transceivers and the upcoming new NEXUS VHF/AIS marine voice and data communication radio. CWR is a major USA distributor of marine electronics with approximately 3,000 dealer accounts across the country. The agreement will result in em-trak products being actively promoted and available to all these dealers.  

em-trak is the own brand of SRT under which the company markets and sells commercial and leisure navigation safety transceivers directly to distributors, dealers and end users.

Simon Tucker, CEO of SRT Marine Systems, commented:

"Last year our transceivers business grew by 58%. In the coming financial year we have an aggressive plan to significantly expand distribution, coupled with the launch of major new products taking us into new market segments, and this agreement with CWR is a solid step forward on that strategy."

For further information, please contact:
SRT Marine Systems plc		www.srt-marine.com   + 44 (0) 1761 409500
Simon Tucker (CEO)		[e-mail]
Louise Coates (Marketing Manager)		[e-mail]
finnCap Ltd (NOMAD & Broker)
Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)		[phone]
Tim Redfern / Charlotte Sutcliffe (ECM)

About SRT Marine Systems plc:

SRT Marine Systems PLC is an established leader in the growing global market for maritime domain awareness. We provide advanced technologies, products and systems that enhance maritime safety, security and environmental protection and sustainability. Our customers range from governments to vessel owners around the world.

 

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