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Pteris Global bags three contracts worth S$64.2m in China, US
PTERIS Global, a provider of integrated airport facility equipment globally, said on Tuesday that it has secured contracts worth S$64.2 million from customers in China and the US.
The first contract of 144.8 million yuan (S$31.9 million) involves the design, supply, installation and testing of passenger boarding bridges (PBBs) and ancillary equipment for the new Terminal 3 at Wuhan Tianhe International Airport in China. The PBBs are slated for delivery and installation by Oct 31, 2016.
The group was also awarded a contract worth 119.5 million yuan (S$26.3 million) for the supply and installation of new PBBs for Terminal 2 at Guangzhou Baiyun International Airport in China. The PBBs are slated for delivery and installation in June 2016.
These contracts were secured under a public tender by Chinese authorities and are expected to contribute positively to the group's financial performance for the financial year ending Dec 31, 2016.
Separately, Pteris subsidiary Pteris Global (USA) Inc secured US$4.3 million (S$6 million) worth of orders for baggage handling system as part of the revitalisation of Terminal 3 of Phoenix Sky Harbour International Airport in Arizona, USA. This contract was awarded as part of a US$17.3 million letter of intent inked with the main contractor, Hunt Austin, in February. The scope of work under the agreement is slated to complete in 2019.