TTS Receives Subsea Crane Order

TTS Group ASA has, through its subsidiary TTS Offshore Handling Equipment AS, signed a new contract for a subsea crane with a total value of approximately NOK 26 million.

The contract is with a European customer, and concerns delivery of an active heave compensated subsea crane for operations down to depths of 2,000 meters. The contract includes an option to be exercised by 1st April 2014. The delivery will take place in the first quarter of 2015.

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Press Release, November 26, 2013