A BOSTON company has won a £24 million contract to supply rail tickets to all the UK train operating companies.

Magnadata International has been awarded the five year deal by the Association of Train Operating Companies (ATOC).

The products will be manufactured at the firm's base in Horncastle Road where 220 people are employed.

Magnadata already supplies tickets for the New York Metro, Dublin Bus, Valencia Metro, Sydney Rail and London Underground.

The new contract will see the company supply approximately 750 million magnetic stripe tickets a year which will be distributed to more than 2,500 rail stations throughout the country.

Divisional director John Wise told the Target: "We are delighted that we have been awarded this major UK contract which helps to consolidate and expand our existing business.

"It also complements our future investment programme in terms of magnetic and RFID product development."

Stephen Green from ATOC said: "They (Magnadata) are an experienced magnetic ticket supplier and we are confident our partnership will provide rail passengers with the best value for money."

Magnadata was the first company to develop magnetic stripe ticket technology for British Rail which was recognised by being awarded the Queen's Award for Technology in 1987.

Each ticket has a magnetic stripe applied to the surface which carries data that enables passengers to use automated barriers at stations.