Four New Contracts for TTS

TTS Group ASA has, through its subsidiaries TTS Ships Equipment AS and TTS Marine GmbH, entered into four new contracts, one for delivery of side-loading systems and three for winches. The total values of the contracts are NOK 110 million (USD 18.4 million).

The contract for side-loading systems is with a major Norwegian shipping company, for conversion of three ships in late 2014 and early 2015.

The other three contracts are for anchor and mooring winches of various types, all for Greek owners. The first contract is for four large Container vessels. The second contract is for four VLCCs, and the third is for two LNG Carriers. The deliveries will take place within 2014 – 2016.

TTS Group, March 18, 2014