Singapore: Kreuz’s Order Book Surpasses USD 100 Million Mark

Kreuz Holdings Limited ,a subsea services provider for the oil and gas industry, today announced that the Group’s order wins has increased to over US$100 million this year after securing its fourth subsea installation contract win this year worth approximately US$6.23 million from a leading offshore company in the oil and gas business located in East Asia.

The subsea installation works, which shall be performed in Southeast Asia, are scheduled to commence in 4QFY2011 with completion in 2QFY2012.

 Mr. Kurush Contractor, Executive Director and Chief Executive Officer of Kreuz Holdings, said: “We are very pleased to have secured our fourth set of contract wins this year, pushing total  contract awards for FY2011 past the US$100 million mark.”

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Source: Kreuz Holdings Limited, September 29, 2011