TTS Group ASA has through its subsidiary TTS Offshore Handling Equipment AS in Norway, received a cancellation of a offshore contract with Kleven Verft AS.
The contract, announced 24 May 2013, was awarded with a initial cancellation right that was valid until 1 August. This cancellation right was later extended until 1 September.
The contract had a value of approx. 65 – 70 MNOK and included the delivery of a 250 ton active heave compensated subsea crane for operations down to depths of 3,000 meters.
[mappress] Press Release, August 30, 2013