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Be the first with the news that moves the market- Codan Communications, a division of Codan (CDA), has won a US$10 million (approximately A$13 million) contract with an unnamed African government
- The African government has purchased Sentry-H radios and accessories which it will use in its military
- The company expects this order to be delivered in the second half of the 2021 financial year
- However, despite this positive news, Codan is down 1.29 per cent on the market this afternoon and is trading for $10.70 per share
Codan’s (CDA) communications division has won a US$10 million (approximately A$13 million) contract with a large African government.
Codan Communications designs and manufactures critical communications equipment for the military and public safety applications.
The new contract is to supply Sentry-H radios and accessories to an African government. The company expects the order to be delivered in the second half of the 2021 financial year.
“The customer intends to deploy Sentry-HTM radios for national security purposes in military operations in a country-wide program,” Codan told the market today.
“The contract is a one-off purchase, and there are no material conditions that are required to be satisfied prior to delivery,” it added.
Codan says this contract is significant, as it reinforces the company’s strength in providing equipment to the African market.
However, despite this positive news, Codan is down 1.29 per cent on the market this afternoon and is trading for $10.70 per share at 1:49 pm AEST.
