Nordic Group has clinched some $35.6 million in contracts with new and repeat customers in the marine, oil & gas, petrochemical, infrastructure and semiconductor industries.
Of this, $14.1 million worth of contracts was secured by the cleanroom, air & water engineering solutions division.
Contracts for supply of spare parts, installation and tools hock-up of semiconductor plants will end in 2Q2022, while that for the maintenance of waste water treatment plant extends for 15 years till 2Q2038.
The precision engineering division secured $9.7 million in contracts for machining services and mechanical assembly till 3Q2021 and 4Q2021 respectively.
The insulation services division secured some $5.9 million in deals. This includes a capital project from a new customer that will run from 3Q2021 to 2Q2022.
Meanwhile, the scaffolding, petrochemical and environmental engineering division secured $3.1 million for works such as scaffolding, inspection and load testing of lifting equipment and pressure vessels and maintenance of plant and equipment.
Most of these contracts will attain completion in 3Q2023.
Other contracts include some $2.8 million for the manufacture of valves and actuators, control and tank gauging systems. These were clinched by the system integration division and will complete in 2Q2022.
In a regulatory filing on Aug 4, executive chairman Chang Yeh Hong said the contracts are “not expected to have material impact on the consolidated net tangible assets per share and earnings per share of Nordic for the current financial year”.
Shares in Nordic Group closed up 2.5 cents or 8.07% at 33.5 cents on Aug 4.
Cover image: file photo
