ECA, subsidiary of GROUPE GORGÉ, signs a settlement agreement with BAE Systems and re-starts the KSTER-C commercialization
ECA and BAE Systems have concluded a settlement agreement regarding the dispute over a patent owned by BAE Systems. This agreement puts an end to this case which prevented ECA from selling submarine demining robots K-STER C since June 2012 (press releases dated July 2 and November 7, 2012).
With the signing of this agreement, ECA emerges from a phase of legal uncertainty. It is agreed that BAE Systems retains only the amount of € 3.7 million already paid by ECA, while a provision of € 6.2 million corresponding to the sentence had been made in the 2012 accounts.
The conclusion of this case will thus have a significant positive impact on the 2013 financial statements of the Group. It also makes possible the re-opening of trade negotiations regarding the K-STER C, particularly with BAE Systems and several other customers which were waiting for the end of the dispute. ECA, which is a world leader in underwater drones, including mine clearance, hopes to book several orders of K-STER C in 2014.
Some large orders for the end of this year
In addition, ECA finished the year with several positive announcements. A deal for additional control simulators has been concluded with the company NITA (Russia). This sale doubles the amount of orders already announced by ECA (press release of November 14, 2013).
These simulators will be exploited by flying training schools and aircraft maintenance of Airbus A320 and A330 type. They are part of the "Development of the transport system of Russia in 2010-2015" program launched in 2010 by the Federal Air Transport Agency (FATA). Delivery is expected by the end of 2013.
ECA also announced, on December 5, an order of several million euros with ATR for the provision of production means to double their assembly line. This order follows the one obtained in late 2012 to provide a ground test system for onboard equipment. These means will be delivered mid-2014. These new orders illustrate the ECA's strategy in aeronautics offering solutions combining systems assembly and testing to ensure support for aircraft manufacturers in the new programs as for the growth of the production rate.
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