Codan wins $7.9m contract
Codan has won a US$7.9 million contract to supply HF radio equipment to a longstanding military customer.
The equipment to be supplied is a combination of Codan manufactured equipment and third-party items.
Codan develops advanced electronic products that perform well in harsh environments.
The company’s strategy to reduce the variability in earnings is primarily based on developing new products that give the company access to larger and more diverse markets, and increasing the size and number of projects it can bid for.
This contract represents a significant multivendor prime project win for Codan’s Radio Communications business and positions the company well to participate in large tenders in the future. This contract award is consistent with the company’s half-year announcement which stated that although the HF business softened in the first half, the level of instability and conflict in some of our key markets is driving demand for the HF products.
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