Norway: TTS Ships Equipment AS to Supply Offshore and Marine Cranes to HHI

Through its subsidiary TTS Ships Equipment AS, TTS Group ASA’s Marine division has signed a contract worth approximately NOK 23 million (approx USD 3.5 mln). The contract is with Hyundai Heavy Industries Co., LTD. in Korea and concerns delivery of offshore and marine cranes for three ships.

The contract contains two options.

The delivery will take place in 2013.

(1 Norwegian krone = 0.173964 U.S. dollars)

Bergen-headquartered TTS is a global enterprise that designs, develops and supplies equipment for the marine and oil and gas industries. The operations are split into three separate divisions: Marine, Energy and Port and Logistics. TTS is one of the top three largest suppliers in its specialised market segments. With a worldwide workforce of around 1100, TTS has over 40 years of experience in the marine industry. The group has subsidiaries in Norway, Sweden, Germany, USA, China, Finland, Korea, Czech Republic, Vietnam, Canada, Singapore, Italy, Greece and Brazil.

[mappress]

Shipbuilding Tribune Staff, March 21, 2012; Image: ttsgroup