Norway: TTS Handling System to Supply Ship Transfer System for Baku Shipyard

TTS Group ASA has through its subsidiary TTS Handling System AS in Drøbak, Norway signed a contract worth approximately NOK 21m.

The contract with Baku Shipyard in Azerbaijan concerns a ship transfer system for the shipyard. Owners of the shipyard are Singaporean based Keppel Fels and Azerbaijan state owned Socar.

The delivery will take place during Q4 2013.

(21 million Norwegian kroner = 3.836805 million U.S. dollars)

[mappress]

Source: ttsgroup, October 27, 2011