Nekkar - M&A Activity 2018 | FinancialReports.eu

TTS Group ASA: New contracts for offshore cranes and side-loading systems

TTS Group ASA has signed two new contracts, one contract for a side-loading

system and one contract for two offshore cranes. The total value of the orders

is approximately MNOK 46.

The side-loading system regards installation on board a fishing vessel, and

expected delivery is first half of 2019. The two offshore cranes are expected to

be delivered to a European shipyard in December 2019.

- We take great pride in being selected as the preferred vendor for high-end

offshore cranes, says Senior Vice President Sales, Lars Djupevåg in TTS Offshore

Solutions, a subsidiary of TTS Group.

- The offshore market is still weak with hardly any newbuilding projects.

However, the large players in the market are slowly starting to proceed with

complex projects that have bespoke lifting and handling requirements. Our

versatile and modularised standard range of offshore cranes is well suited for

these projects, as they are cost efficient even when engineered to order - or

configured to order as we prefer to call them, says Djupevåg.

Bergen, 20 September 2018

TTS Group ASA

http://www.ttsgroup.com

Contact persons:

Toril Eidesvik

CEO

M: +47 900 78 218

Leiv Kallestad

CFO

M: +47 958 95 661

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