Nordic Group secures $48.7m worth of contracts

The contracts are for engineering and industrial services across multiple sectors.

Nordic Group Limited announced that its System Integration, Precision Engineering, Scaffolding, Insulation, Petrochemical & Environmental Engineering, Cleanroom, Air and Water Solutions and Structural Engineering and Construction Services have recently clinched several contracts with a total value of approximately $48.7m.

The contracts are with new and repeat customers, comprising of multinational companies and companies in the marine, offshore oil and gas, petrochemical, semiconductor, infrastructure and security industry or sectors

These include $7.8m of capital and adhoc contracts for the manufacture of valves and actuators, control and tank gauging systems and electrical and instrumentation work for a series of 42 vessels, $9.2m for machining services and mechanical assembly, $5.3m for scaffolding, insulation work, and ad-hoc maintenance of certain environmental infrastructure, a $25.1m contract for an ad-hoc, maintenance and hook up services, and a $1.3m engineering work related to the maintenance and installation of fuel storage systems.

The group said that the contracts will not have a material impact on the consolidated net tangible assets per share and earnings per share of Nordic for the current financial year.

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