Coda Octopus reports $1.4M engineering services order

Coda Octopus (CODA) Group reported that its UK, Portland based Defense Engineering Services Business, Coda Octopus Martech, recently received an order from one of its established long term customers, a leading and longstanding UK Defense Contractor, for sub-components which will form part of a suite of autonomous mine sweeping systems. Annmarie Gayle, CODA’s Chairman and CEO, commented: “We are very pleased to see contracts relating to European Defense Programs being fast tracked and contracting barriers being removed to expedite Defense Programs. Since 1988, Martech has been a well-established sub-contractor within the European Prime Defense Contractor community, holding key pre-qualifications required to participate in major defense contract programs. With Europe ramping up Defense spending and prioritizing early deliveries, we believe Martech is strategically positioned to benefit from the resulting new opportunities which may arise as Europe unleashes its Defense Spending Programs. The Engineering Business is an important part of our Group, and we continue to execute against our strategy to restore this Business to its pre-COVID revenue profile”.