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Engineering services firm Acromec bags 2 contracts worth S$6.6m
ACROMEC has secured two contracts worth S$6.6 million, which the group says will help grow its order book to around S$28 million.
The first contract is for the fitting-out of a pharmaceutical and speciality chemicals company's research laboratory. The lab is housed in the company's research and development hub, and Acromec expects the project to begin in the first quarter of 2018 and complete by the third quarter.
The second contract is for an extensive upgrade of the air-conditioning mechanical ventilation and air handling unit systems of a research laboratory for a customer in the life sciences sector.
Acromec says the upgrade will reduce the laboratory's energy consumption and increase precision of air quality control. The project will begin in the second quarter of the 2018 financial year, and is expected to finish by fourth quarter 2018.
Acromec is an engineering services provider specialising in the construction of controlled environments.
Its executive chairman and managing director, Lim Say Chin, said that the projects validate the group's "strategy to prioritise and allocate a greater proportion of our resources, including manpower and business development, to enlarge our footprint in these fast-growing sectors with high barriers to entry for competitors".
The group expects the projects to contribute positively to the earnings per share and net tangible assets per share for the 2018 financial year.