- Integrated security solution to be deployed across 23 airbases over 18-24 months
- US$3.5 million (A$5.0 million) contract is expected to be in place within six weeks
- FFT offered only compliant solution for both buried and fence mounted applications
AVA Risk Group Limited (ASX: AVA), a market leader of risk management services and technologies, announced today that it had received formal confirmation that the Purchase Order has been received and accepted by its in-country manufacturing partner, SFO Technologies Private Limited (SFO) in respect of the major Letter of Intent award announced to the ASX on 5 September 2018, as updated:
- SFO has formally notified Ava that the Purchase Order has now been received and accepted.
- Ava will receive an estimated US$11.9m (A$16.86m) over the next 14 months, paid as license fees.
- Based on the current production and delivery schedules, it is anticipated that between US$0.35m and US$1.0m (A$0.5m and A$1.5m) revenue will be generated in FY2019 with the remaining revenue of between US$11.55m and US$10.9m (A$16.36m and $15.4m) expected in FY2020.
- In addition, there is expected to be further revenue after the initial 3-year warranty period from a subsequent 7-year spares and maintenance contract, which has been estimated at US$3.4m (A$4.8m) over the warranty period.
- Given the licence fee nature of the project, the contract will be highly profitable for Ava Group. Moreover, it’s expected that the project win should lead to further opportunities in the secure data network market.
- Under the revised contract terms, Ava will be paid on 120-day terms (ex-works) and benefit from a bank guarantee equivalent to 200 units of product (circa 20% of total production volumes).
- Appointment of sales executives in Africa and Latin America to fill vacancies
- Renewed focus on technology related security opportunities in these regions
- Key markets for perimeter, pipeline and new Aura Ai / Mining3 applications
AVA Risk Group Limited (ASX: AVA) has renewed its focus on technology related security opportunities in Africa and Latin America with the appointment of experienced sales executives in each region.
Ava Group (AVA), a market leader in security risk management services and technology will be showcasing its portfolio of security solutions at ISC West – Las Vegas, booth 25103. ISC West is the largest converged security industry trade show in the US with the exhibition taking place from April 10-12th. The event provides a major platform for professional networking, sourcing new suppliers and introducing new products and technologies, encompassing everything from access control to unmanned vehicles. ISC West also includes the SIA Education@ISC conference programme, running from April 9-11th.
Ava Risk Group Limited (ASX:AVA) has today announced the signing of a development and commercialisation agreement with Mining3 which will see the launch of an innovative new performance management solution aiming to revolutionise the condition monitoring of conveyors.
Ava Group (AVA), a market leader in security risk management services and technology will be showcasing its portfolio of security solutions at Intersec Dubai 2019, stand S3-C48. Intersec Dubai features a rich selection of leading exhibitors in Security, Safety & Fire Protection, attracting visitors from the Middle East, Africa, the Indian subcontinent and well beyond.
FFT, the market leader in leader fibre optic intrusion detection and location products, is proud to announce the successful supply of its 100th premium high sensitivity intrusion detection controller by its Indian-based subsidiary, FFT India Pvt. Ltd. In marking the occasion, the company has also taken the opportunity to offer its considerable gratitude to Austrade (The Australian Trade and Investment Commission) for its diplomatic and introductory assistance across a number of vital project tenders.
Ava Risk Group Limited (ASX: AVA), a market leader in the provision of risk management services and technologies, announced today that it has received purchase orders for A$2.2m in respect of the upgrade of security at several military airbases in Asia. This is the first phase of a wider program to enhance security at a number of critical military locations.
Ava Group is proud to announce new enhancements to its market-leading FFT Aura Ai-2 advanced fibre optic detection controller, which offers superior intrusion detection location accuracy together with extended range performance. The system is perfect for monitoring pipelines, perimeters and communications networks.
Future Fibre Technologies (FFT), as part of Ava Group will be presenting its portfolio of security solutions at International Security Expo, stand E74. The expo also hosts a range of certified conferences and workshops covering every major sector of the security industry. Taking place over two days at London Olympia, the event focuses on the needs of government and CNI amongst other key sectors.