Morson Projects and Yacht Teccon sign Letter of Intent to strengthen pan-European positioning in engineering services.
Morson Projects Ltd, UK Technical Engineering Design Consultancy and part of the Morson Group PLC, is pleased to announce the signing of a Letter of Intent to form a strategic alliance with Yacht Teccon, German supplier of engineering services.
Signed at the Berlin Airshow, the agreement to co-operate on joint projects, represents a further step in the Group's strategy to supplement strong organic growth and acquisitions, with strategic alliances to attain an increased European footprint.
Morson Group and Yacht Teccon have levels of supplier status with both Airbus and its parent company EADS. The joint scope of supply currently covers technical engineering and design solutions, involving structural design and stress analysis, electrical installation, aircraft systems and manufacturing engineering.
Commenting on the alliance with Yacht Teccon, Ged Mason, Chief Executive Officer of Morson Group, said:
"We are delighted to be able to announce this new alliance with Yacht Teccon and I believe that the partnership has an excellent strategic fit enhancing our individual in-country market leading positions.
The culture and processes within both our companies are closely aligned and together we will be able to bid for, win and deliver much larger contracts, which aligns with the vision and strategy of our clients."
In support of Ged Mason's comments, Ralf Gust, Director of Operations Yacht Teccon, stated "This cooperation strengthens our international network of specialised engineering experts and our business in the UK market. With this strategic alliance we are positioned optimally, especially in the field of aerospace construction."
ENDS
For further information, please contact:
Morson Group PLC +44(0)161 707 1516
Ged Mason,Chief Executive
Paul Gilmour, Finance Director
Kevin Gorton, Managing Director
Buchanan Communications
Diane Stewart/James Strong +44(0)20 7466 5000
Brewin Dolphin (NOMAD)
Matt Davis +44(0)845 270 8600
Notes to Editors
Information on Yacht Teccon
Yacht Teccon Engineering GmbH & Co. is one of the leading companies in Germany's market for engineering services and technology consulting. It supports worldwide renowned companies in aerospace, automotive, automation, mechanical & plant engineering and the shipbuilding industry. Yacht Teccon which is wholly owned by Ranstad Holdings was formed from the merger of Yacht and Teccon in 2007. The Company which is headquarted in Bremen/Stuhr employs some 2000 staff, approximately 80 percent of which are highly qualified engineers in 23 sites across Germany.
Information on Morson Group PLC
Morson Group PLC are the UK's leading supplier of technical personnel and outsourced project management, engineering and design services to the aerospace, defence, infrastructure, rail and nuclear industries.
In 2007, Morson Group, operating out of 22 UK offices and one European office, generated revenues of £394 million.
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