TTS Group ASA : TTS signs 120 MNOK contract for drillship crane package

   TTS Group ASA : TTS signs 120 MNOK contract for drillship crane package

TTS Group ASA has through its subsidiary TTS Offshore Handling Equipment AS in
Norway, signed a contract with a total value of approx. 120 MNOK.

The contract is with Daewoo Shipbuilding & Marine Engineering Co., Ltd. in
Korea and concerns delivery of four large offshore cranes, additional
equipment for riser handling and pipe handling for a drillship for Vantage
Drilling Company, USA. The contract comprises three options for delivery of
identical equipment.

"After being awarded a similar contract from STX Offshore & Shipbuilding Co.,
Ltd. In November 2012, this contract represents a final breakthrough in a very
interesting and significant market segment. We have pursued prospects within
this segment for a long time, and this contract enhances our position within
offshore load handling" says CEO Johannes D. Neteland.
TTS has long traditions in serving the worldwide shipbuilding and oil
industry, where TTS Offshore Handling Equipment AS delivers offshore cranes
and load handling solutions.
The delivery will take place in the 3rd quarter of 2014.


Bergen, 26 August 2013.

Contact persons:

Johannes D. Neteland
President & CEO
M: +47 918 46 906

Arild Apelthun
CFO
M: +47 918 19 265

Miao Reinlund
VP Communications
M: +47 900 65 883
TTS Group ASA, Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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Source: TTS Group ASA via Thomson Reuters ONE
HUG#1724741
 
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