Dyna-Mac Secures Contracts for a Provisional Sum of $30 Million from Two New Customers
Tuesday 20 June 2017
The Board of Directors of Dyna-Mac Holdings Ltd (“Dyna-Mac” and together with its subsidiaries, the “Group”) wishes to announce that the Group has secured two fabrication projects for a provisional sum of $30 million from two new customers.
The Group has been awarded the contract by Cameron Solutions Inc., a Schlumberger Company acting through its Process Systems Group, for the fabrication of a MEG Reclamation Unit for the Leviathan Production Platform Project. The fabrication will commence shortly and is expected to complete by 3Q 2018.
The second project is for the fabrication of a skid package for Papua New Guinea. The project will commence shortly and is expected to complete by 2Q 2018.
The above orders are expected to have a positive contribution and impact to Dyna-Mac’s earnings per share and net tangible assets for the year ending 31 December 2017.