The first contract, through TTS subsidiary TTS Handling Systems AS in Norway, concerns delivery of shipyard equipment to a shipyard in southern Vietnam. Estimated time of delivery is the first quarter of 2015.
The shipyard contract is the fifth project in the past 16 months and reinforces the strong position TTS has obtained in this promising market.
The second contract, through TTS subsidiary TTS Marine AB in Sweden, is with Hyundai Heavy Industries in Ulsan, South Korea. The contract concerns delivery of cargo access equipment to two car carriers under construction. The deliveries will take place during 2013 and 2014.