Norway: TTS Group Wins Offshore Handling Equipment Contract – Exercise of Option

Through its fully owned subsidiary TTS Offshore Handling Equipment AS, Bergen-Norway, TTS Group ASA has been awarded the first of two options. The called option is worth between 65 – 70 MNOK.

Reference is made to statement to Oslo Stock Exchange, dated 12 March 2012, regarding the contract signed with Kleven Verft AS.

The contract with Kleven relates to new build no. 362 for delivery to Olympic Shipping AS. TTS will deliver a 250t active heave compensated crane for operations down to 3,000 meters depth.

TTS has long traditions in serving the worldwide shipbuilding and oil industry, where TTS Offshore Handling Equipment AS deliver offshore cranes and lifting equipment.

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Shipbuilding Tribune Staff, June 21, 2012; Image: tts