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Synectics (LON: SNX) shares are rising on Wednesday following the announcement that it has recently been awarded several new contracts for the National Transport Authority (NTA), the transport authority for Greater Dublin and the public transport licensing agency for Ireland, with an aggregate value of £1.4 million.
Synectics security division will provide critical onboard safety and surveillance systems, featuring its latest recording technology and integrated reversing systems for the NTA’s new plug-in hybrid double-deck vehicles.
The new vehicles are supplied by UK bus builder Alexander Dennis Limited and will be operated by Dublin Bus and Bus Éireann, with Synectics providing in-country support and maintenance.
The new contracts are in addition to 200 the company secured with the UK and European bus manufacturers for the NTA worth over £1 million.
“We are delighted to be working once again with the NTA to support their transition to next-generation, low emission vehicles – a trend we hope to see reflected as part of the UK's National Bus Strategy development,” said Paul Webb CEO of Synectic's.
The company shares are up just under 8% on Wednesday at 145p.
Should you invest in Synectics shares? Synectics shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Synectics shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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