WFEL on brink of £60 million deal
mars 3, 2011 Laisser un commentaire
NORTH WEST DEFENCE GROUP ON BRINK OF £60 MILLION DEAL
WFEL – the Stockport-based defence engineering group – is on the verge of clinching a £60 million sale of tactical bridging assets to the Swiss armed forces.
The business, which is backed by private equity firm Dunedin, has been down selected to a final shortlist of one following an international procurement contest, the tender for which was issued to various companies. The deal will now be passed to the Swiss Parliament via its Defence Committee for approval with a final decision expected at earliest End of this year.
As part of its selection process, a delegation from the Swiss military inspected WFEL’s advanced manufacturing facilities at its Stockport headquarters.
If agreed, the contract will see WFEL provide a tranche of its next generation bridging system, the Dry Support Bridge (DSB).
The DSB can be deployed from a single launch vehicle to span gaps of up to 46 metres in under 90 minutes and is used by armed forces in a range of humanitarian and military operations.
It is understood that WFEL would fit the DSBs to the chassis of the Swiss armed forces’ IVECO trucks.
Last October the business scooped almost £40 million in new sales through a double deal with the US.
Ian Wilson, WFEL’s chief executive, said: “We’re now nearing the conclusion of a rigorous procurement contest which has once again proven our engineering capability in the face of leading global competition.
“The contract has the potential to become one of the largest single contracts in our 75 year history in the North West and will help maintain our pace of sustained growth for several years to come.”