Dyna-Mac Bags Fabrication Contract for FPSOs

Singapore-based Dyna-Mac Holdings Ltd (Dyna-Mac), a provider of detailed engineering, procurement and construction services to the offshore industries, announced that it has secured a new fabrication order for a provisional sum of $107 million (SGD 135 million).

The order is from our regular client for the fabrication of topside module of various sizes, manifolds and flare towers for two FPSOs (floating production storage and offloading) to be carried out in both our yards in Singapore and Guangzhou, China. Production will commence in late 3Q 2013.

The above orders are expected to have a positive contribution to Dyna-Mac’s earnings per share for the year ending Dec. 31. However, the contracts are not expected to have a material impact on Dyna-Mac’s net tangible assets per share for the year ending Dec. 31.

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