Thales acquires more Metsman units from Coda Octopus Martech
Coda Octopus Martech (Martech), a wholly owned subsidiary of Coda Octopus Group, Inc. based in Weymouth, UK, has been awarded a contract having a value of $730,000 to manufacture a significant number of weather Data Display Units (DDUs) and Ground Temperature Probes for Thales UK’s Metsman meteorological sensor. Working with Thales since the original development of Metsman, Martech has produced over 400 units to date and started delivering this latest batch in September 2012.
As part of the Metsman system, the Data Display Unit and Probes that are manufactured by Martech collect and display real time ground-level meteorological information. Applications include Nuclear, Biological and Chemical (NBC), Hazard Prediction Systems, Tank Fire Control Systems, and any application that requires localised weather data.
In this particular instance the Metsman systems will be installed as part of a new-build military vehicle for a major foreign armed force.
In addition to working on Metsman, Coda Octopus Martech are currently involved on other projects for Thales UK’s naval and missile electronics businesses, spanning manufacturing, legacy system support and development of special test equipment, and are very proud to be a supplier to Thales.
A spokesman for Thales stated: “Martech originally worked with us to develop the Metsman DDU and remain a key supplier because they are able to manufacture and support this product to the high standards we require, and to respond to tight deadlines”.
Paul Baxter, Managing Director of Coda Octopus Martech commented that “Thales are one of Martech’s longest standing customers and we are very pleased to continue to be a key supplier on the Metsman as well as helping to develop a number of special test solutions for other parts of Thales.”
About Thales: see www.thalesgroup.com
About Coda Octopus Group, Inc.
Originally founded in 1994 as Coda Technologies, the Coda Octopus Group is now headquartered in Lakeland, Florida.
The Group consists of a Marine Products business located in Lakeland, Florida, Edinburgh, Scotland, Perth, Australia, and Bergen, Norway, and engineering businesses, Coda Octopus Colmek in Salt Lake City, Utah and Coda Octopus Martech in Weymouth, England. Each of the Group companies are technology innovators with a particularly high level of sonar expertise. The Group has facilities in Florida, Utah, the UK, Australia, and Norway.
Alongside providing bespoke engineering and development for defense applications one of the Group's key products is the patented Coda Echoscope® - the first real time 3D sub-sea sonar which is used in oil and gas, underwater construction, search and rescue operations and port and harbor security and constructions. The top end software which runs on the Echoscope® (Underwater Survey Explorer) is also proprietary to Coda Octopus. The Echoscope® is also at the heart of the Underwater Inspection System which is being adopted for port and harbor security, and other applications globally. We have a number of products which are based on our real time 3D technology (Echoscope®, Underwater Inspection System and Dimension® (the latter being a forward looking real time sonar targeted at ROV applications)).
With this patented revolutionizing sub-sea visualization capability, and the existing systems integration skills within Coda Octopus Colmek, Inc. and Coda Octopus Martech Ltd., the Coda Octopus Group believes it can become a world leading integrated sonar technology supplier.
Safe Harbor Statement
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import but all statements other than of historical fact could be deemed forward-looking statements. Stockholders, potential investors and other readers are cautioned not to place undue reliance on these forward-looking statements that are predictions and opinions based only on current information as of the date of this press release that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and include, but are not limited to, market acceptance of CodaOctopus’ planned products and their level of sales, access to the capital necessary to finance and grow the business, ahighly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers. These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Released November 11, 2012