Tekmar Group plc announced it has settled a legacy defect claim with a customer concerning abrasion issues in cable protection systems at offshore wind farms. The settlement, reached without admission of liability or a conclusion of defect, was disclosed on September 9, 2026.
The company said the financial impact of the settlement is covered by provisions already included in its fiscal year 2025 annual report and will not affect fiscal year 2026 performance. Payment will be made in cash, funded primarily from insurance proceeds Tekmar has already received.
CEO Richard Turner, who was appointed in September 2024, stated the settlement represents a major step toward resolving all known significant defect notifications related to abrasion of legacy cable protection systems installed at offshore wind farms.
