“The lower orders in Oil & Gas segment was due to the impact of the current oil and gas market environment as well as from a one-time adjustment of order intake in 3Q2019 due to the consolidation of the order book of Volta, which was acquired at end of August 2019,” says the company.
Global technology solutions provider CSE Global says its business sectors have secured $91.0 million of new orders, compared to $156.1 million secured in 3Q2019.
The lower new orders this quarter is mainly due to the decline in orders from CSE Global’s Oil & Gas and Mining & Minerals segments, mitigated by the increase in Infrastructure.
