Through its subsidiary TTS Handling Systems AS, TTS Marine ASA has landed two contracts worth a total of NOK 29m for the delivery of production lines to shipyards with delivery within the end of 2005.
Through its subsidiary TTS Handling Systems AS, TTS Marine ASA has landed two contracts worth a total of NOK 29m for the delivery of production lines to shipyards with delivery within the end of 2005.
The contract with Dalian New Shipbuilding Heavy Industry (DNS) in China is for the delivery of a panel line for assembly and welding of steel sections. DNS is the largest shipyard within the shipyard corporation China State Industrial Corporation (CSIC) one of the two state-run companies in China each covering their own geographical areas, CSIC in the north and CSSC in the south. DNS' choice of solutions often becomes the benchmark for other shipyards. The contract with DNS is therefore of great importance for TTS with respect to future deliveries of production lines to China, among others to DNS.
The contract with Edison Chouest Offshore (ECO) located in Lousiana, USA, is for the delivery of a production line for welding and assembly of plates for a new shipyard in Brazil, as well as an upgrade of existing equipment for a shipyard in the US. ECO is an offshore service operating company which owns several shipyards. ECO has entered into a phase where they are upgrading existing shipyards as well as building new ones. TTS has been chosen as ECO's partner with regard to production lines.
Bergen 5 April 2005
Contact persons:
Johannes D. Neteland, President and CEO TTS Marine SAA
Olav Bruåsdal, Director TTS Marine ASA
Phone: 55 94 74 00/ Fax:55 94 74 01
