Pennant International signs new customer, extends contract with another

21st Aug 2018 10:30

(Sharecast News) - Integrated training and support solutions provider Pennant International Group has been awarded a contract by a new customer, it announced on Tuesday, and agreed a beneficial extension to an existing contract with another.The AIM-traded firm said that, following a successful tender in open competition, it was awarded a long-term contract by an undisclosed new government client in the Asia-Pacific region.It said the contract was for the supply of virtual training software to help air force maintenance engineers practice procedures, functionality and diagnostics in a virtual environment.Pennant would be supplying its 'Virtual Aircraft Training System' (VATS), with customer-specific modifications.The VATS product had been undergoing a "significant" upgrade to its user interface and 3D models in readiness for the sale, and for other potential customers, the board said.It added that the software would be supplied to the new customer later this year on a perpetual licence.Pennant would be providing ongoing support and maintenance for the software under a 10-year arrangement with the customer.For the contract extension, Pennant said its software services division - home to the 'OmegaPS' software product - had received an order from an existing customer in the maritime sector to continue the provision of consultancy and technical documentation services until June 2021.It described OmegaPS as a logistical support and analysis tool, used to reduce the operating costs of major capital equipment in the defence, aerospace and transportation markets."We are very pleased to add these two contracts to the order book," said Pennant's commercial and risk director David Clements."The VATS contract was awarded following a very competitive tender process and we look forward to supporting this new customer's training needs over the coming years, whilst the OmegaPS contract extension is testament to this product's market-leading capabilities."Both contracts will contribute to the Group's forward visibility of earnings over a number of years."