Nordic units secure approximately S$4.8 million worth of contracts

NORDIC Group Limited announced on Thursday that its wholly owned subsidiaries, Nordic Flow Control Pte Ltd (NFC) and Multiheight Scaffolding Pte Ltd (MHS) have recently clinched several contracts with a total value of approximately S$4.8 million.

The contracts are secured with repeat customers - comprising multinational companies and companies in the marine, oil & gas and process industries.

NFC secured contracts of approximately S$4 million with two repeat customers for the supply of anti-heeling systems, valve remote control and tank gauging systems and alarm & monitoring systems. The projects are expected to be completed by 2017.

MHS secured ad-hoc projects with repeat customers of approximately S$0.8 million. The contracts are expected to be completed by Q4 2016.

The above 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.