Odim Wins Subsea Contracts from Olympic, Bourbon

Odim ASA has won subsea contracts worth about NOK 30 million from Olympic Holding, Norway and Bourbon Gaia, France. The systems are due to be delivered from 2008 within first quarter 2009.

One of the contracts is for delivery of 2 ODIM LARS for Olympic Holding. The Odim LARS is an automated launch and recovery system for remotely operated vehicles (ROV). The Odim LARS is designed to handle ROVs on water depths down to 4,000 meters.

One contract is for delivery of a module handling system for Bourbon Gaia, which can handle subsea modules on water depths down to 1,500 meters. All systems are active heave-compensated and well- known technology for Odim.

Odim ASA is a fast-expanding Norwegian technology company that develops and sells advanced automated handling solutions, primarily cable handling systems and winches for use on offshore and naval vessels. The company occupies a leading position in selected market segments, such as seismic surveying and offshore supply. Through its subsidiaries in North America, it is also solidly rooted in the defense sector. In addition to its established market segments, Odim will be making a heavy commitment to the very promising deepwater market.

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