Nordic Group bags contracts totalling S$76.5 million
Jude Chan
AUTOMATION systems integration solutions provider Nordic Group on Monday (Nov 14) announced that units of the company recently clinched several contracts with a total value of S$76.5 million.
The biggest chunk of these contract wins came from its Cleanroom, Air and Water Engineering Solutions division, which secured capital, ad-hoc and maintenance projects worth S$39.8 million.
This was followed by Nordic’s Scaffolding, Insulation and Petrochemical & Environmental Engineering divisions, which scooped contracts worth S$15.3 million for insulation, scaffolding and plant maintenance ad-hoc work.
The group’s Specialist Structural Engineering Services and Precision Engineering divisions also won contracts worth S$9.7 million and S$9.4 million, respectively.
Lastly, the System Integration division secured S$2.3 million worth of capital and ad-hoc contracts.
The contracts are from Singapore, Malaysia and China, with customers comprising companies in the marine, offshore oil and gas, petrochemical, semiconductor and infrastructure industries.
Nordic said the contracts are not expected to have material impact on its consolidated net tangible assets per share and earnings per share for the current financial year ending December.
The new contract wins will provide a boost to Nordic’s order book, which stood at S$232.7 million as at Jun 30, 2022.
Shares of Nordic closed 2.2 per cent or S$0.01 higher at S$0.47 on Monday, before the announcement.
Copyright SPH Media. All rights reserved.
