Pennant inks collaboration agreement with Resource Group

AIM-listed management service provider Pennant International Group announced on Monday that it had finalised an agreement that would see it team up with Swiss firm Resource Group to supply a number of services across multiple revenue streams.

Pennant, which supplies integrated training and support solutions, products and services to the defence, rail, aerospace and naval sectors, said it had already identified a number of opportunities to work on in conjunction with Resource Group since signing the teaming agreement on 26 September.

Phil Walker, Pennant's chief executive, said, "We have worked on the same projects as Resource Group over a number of years and teaming to work more closely together makes perfect sense, not just for our respective businesses but for our mutual customers as well."

Resource Group's chief executive Stephan Hickman added, "The market sectors we serve increasingly demand integrated solutions and closer co-operation between suppliers. Through this collaboration, we aim to enhance the value proposition available to the customers of both Resource Group and Pennant. This agreement is the first step towards achieving that goal."

As of 1215 BST, shares had bumped up 4.82% to 87.00p.