TTS Group ASA has, through its subsidiary TTS Offshore Handling Equipment AS, been awarded an option of two cranes, worth approximately NOK 50 million (approx $8.2 million).
Reference is made to statement to Oslo Stock Exchange, dated 22 April 2013, regarding the contract signed with COSCO Qidong Offshore co. Ltd. in China.
The contract concerns delivery of two cranes for a semi-submersible accommodation vessel for Axis Vega Pte. Singapore Ltd., a joint venture company between J. Lauritzen A/S in Denmark and HitecVision AS in Norway.
The delivery will take place in July 2015.
Press Release, November 20, 2013