Contract for the Construction of 2 OSRV and 1 PSV

RNS Number : 5161I

Ocean Wilsons Holdings Ld

03 July 2013

 

Ocean Wilsons Holdings Limited

Contract for the Construction of 2 OSRV and 1 PSV

Our principal operating subsidiary, Wilson Sons Limited made the following announcement to the Brazilian and Luxembourg Stock Exchanges.

Wilson Sons Limited ("Company") announces to all its shareholders, that it has signed a contract with Geonavegação S.A., wholly owned subsidiary within the Georadar Group, for the construction of two Oil Spill Recovery Vessels ("OSRV") with 1,080 m³ of recovered oil storage capacity and one Platform Supply Vessel ("PSV") with deadweight of 5,000 t. The vessels, which are scheduled for delivery in 2015, will be built in Wilson Sons' shipyard complex, in Guarujá (SP), and have a total price of approximately BRL 293 million, when converted with the exchange rate on July 1, 2013. The contract shall be effective upon payment of the first installment for each vessel limited to 90 days after contract signature.

The strategy of Wilson Sons Shipyard comprises the construction of a mix between owned and third-party vessels, as well as providing repair, maintenance and dry docking services to meet the demand of national and international oil and gas companies operating in Brazil. The shipyard's order book now includes twelve tugboats and seven support vessels, of which three are PSV4500 for Wilson Sons Ultratug Offshore, one Remotely Operated Vehicle Supply Vessel ("ROVSV") for Fugro Brasil Serviços Submarinos e Levantamentos Ltda, and two OSRV and one PSV5000 for Geonavegação S.A.

Enquiries

Company Contact

Keith Middleton                                                            1 441 295 1309

Media

David Haggie                                                               020 7562 4444

Haggie Partners LLP

Cantor Fitzgerald Europe                                          020 7894 7000

Rick Thompson - Corporate Finance

David Banks - Corporate Finance

 

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