Nordic Group cleanroom division wins $10.5m in service contracts

Singapore-based Nordic Group Limited has clinched several contracts with a total value of approximately $26.5m

Nordic Group Limited has clinched several contracts with a total value of approximately S$35.6m (US$26.5m). The contracts are with new and repeat customers, comprising of multinational companies and companies in the marine, oil & gas, petrochemical, infrastructure and semiconductor industries.

The Cleanroom, Air & Water Engineering Solutions division secured ad-hoc and maintenance services contracts of approximately S$14.1m (US$10.5m) mainly for supply, install, tools hook-up services of semiconductor plants, supply of spares and maintenance of waste water treatment plant. The supply, install and tools hook-up contracts mainly end in 2Q2022 and maintenance contract is for 15 years ending in 2Q2038.

The Precision Engineering division secured approximately S$9.7m (US$7.2m) for machining services and mechanical assembly. The contracts will complete in 3Q2021 and 4Q2021.

The maintenance contract is for 15 years ending in 2038

The Insulation Services division secured approximately S$5.9m (US$4.4m) for insulation work. The capital project from the new customer is from 3Q2021 to 2Q2022.

The Scaffolding and Petrochemical & Environmental Engineering divisions secured approximately S$3.1m (US$2.3m) for scaffolding work, inspection and load testing of lifting equipment and pressure vessels and maintenance of plant and equipment at certain waste water plants waste to energy plant. The contracts will mainly complete in 3Q2023.

The System Integration division secured approximately S$2.8m (US$2.1m) mainly for the manufacture of valves and actuators, control and tank gauging systems. The contracts will complete in 2Q2022.

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.

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