Nekkar ASA: Syncrolift enters into service agreement with Dubai Maritime City

26 Sep 2024 13:04 CEST

26.9.2024 13:04:14 CEST | Nekkar ASA | Non-regulatory press releases

26 September 2024 - Nekkar's wholly-owned subsidiary Syncrolift AS has signed a
comprehensive service agreement with Dubai Maritime City (DMC) for the
maintenance of DMC's two shiplifts and 42 dry berth-sets of transfer systems.

DMC, home to the world's largest and most advanced ship handling facility, is
poised to enhance its operational capacity through this partnership.

Under the terms of the agreement, Syncrolift will implement innovative
maintenance control systems designed to support the continuous servicing of
shiplifts and transfer systems.

The agreement covers the two shiplifts that Syncrolift have significantly
upgraded in recent years, and which the company going forward will maintain at
its current superior standard.

The contract is valid for an initial five-year period, plus optional periods. It
consists of a fixed, undisclosed annual maintenance support fee. Potential
service assignments and improvements to shiplift or transfer facilities come in
addition.

"We will gradually integrate digital solutions that provide real-time access to
operational conditions. This will enhance visibility and enable predictive
maintenance, ultimately reducing downtime and labor costs. It will be a kind of
Syncrolift digital twin for repair yards," says Romar Halvorsen, global service
director at Syncrolift.

Through this partnership, Syncrolift and DMC are setting new standards for
shipyard management and maintenance, ensuring that DMC remains a leader in
global maritime innovation.

"Generating more service revenue from our extensive installed base of shiplifts
and ship transfer systems remains a key component of our growth strategy. This
partnership between DMC and Syncrolift is based on a high degree of innovation
which will create value for both parties. We look forward to demonstrating and
developing digital, real-time monitoring capabilities together with DMC," says
Ole Falk Hansen, CEO of 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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