Nekkar ASA: Subsidiary awarded contract for ship transfer systems

04 Mar 2024 09:41 CET

4.3.2024 09:40:56 CET | Nekkar ASA | Non-regulatory press releases

04 March 2024 - Nekkar ASA's subsidiary Syncrolift AS has been awarded a
contract to deliver a package of ship transfer systems to specialized maritime
zone Dubai Maritime City (DMC) in the United Arab Emirates.

The total contract value for Syncrolift is USD 8 million. The equipment will be
delivered during 2024. Syncrolift will conduct project management and
engineering from its headquarter and Innovation Lab in Vestby, Norway.

This latest contract follows an award in June 2023 for delivery of an identical
ship transfer system to DMC. DMC has now decided to buy three more transfer
systems.

"This transfer system is the future for all shipyards that are struggling with
load capacity. Our new transfer system is designed in such a way that it will
increase the lifting capacity of shiplifts while reducing cost of maintenance,"
says Rolf-Atle Tomassen, managing director of Syncrolift AS.

In December 2022, Syncrolift received a USD 10 million letter of award to
modernize two shiplift systems at DMC. The first of these two shiplifts has
recently been successfully commissioned by the Syncrolift team.

"DMC has over the past few years become an important customer of our shiplifts
and ship transfer systems. To secure repeat business from DMC is a testament to
the Syncrolift team's ability to deliver. We are very pleased with this latest
award and our general global win rate in this market," says Ole Falk Hansen, CEO
of Nekkar ASA.

Syncrolift is the world's leading manufacturer of shiplifts and transfer systems
having won 60 percent of all shiplift contracts during the past ten years. The
company is a wholly owned subsidiary of Oslo-listed Nekkar ASA.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

* Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies
combined with high-end software solutions. The group combines 50 years' heritage
from the world's number one shiplift company, Syncrolift, with new investments
into sustainable, digitalised technology businesses that aim to unlock growth
within ocean-based industries such as offshore energy, renewables and
aquaculture.

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