Nekkar ASA: Subsidiary wins naval upgrade contract

28 May 2025 11:07 CEST

28.5.2025 11:07:41 CEST | Nekkar ASA | Non-regulatory press releases

May 28, 2025 - Nekkar ASA's wholly-owned subsidiary Syncrolift AS has been
awarded a contract from the United States government contractor MVL Group to
upgrade the shiplifting facilities on the Diego Garcia naval and airbase.

Under the contract, Syncrolift will deliver life extending services to the
existing shiplift and transfer system, including upgrades to the control system.
Work under the contract will commence immediately and is expected to be
finalized through the second half of 2026.



"The award, where we will deliver services to a naval-base in the Indian Ocean
from our Dubai and Mumbai locations, highlights our global competitiveness and
international presence" says Rolf-Atle Tomassen, managing director of Syncrolift
AS.



The total contract value is approximately NOK 30 million.



"The contract award emphasizes Syncrolift's leading position in the service
market for shiplifts. The high standards expected by MVL Group and in turn the
United States Navy also serves as a testimony to Syncrolift's capabilities" says
Ole Falk Hansen, CEO of Nekkar ASA.



(ENDS)

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 long-term owner of ocean-based technology
companies. The company invests in and develops technology businesses within
sustainable oceans, robotics and intelligent logistics, and digital solutions.
With a 50-year industrial heritage from Syncrolift, Nekkar applies an active
buy-to-own strategy to build long-term value. The group supports empowered
operating companies with a strong balance sheet and reinvests strategically to
ensure profitability and sustainable growth. As a publicly listed company,
Nekkar has a proven track record of shareholder value creation through
disciplined M&A, financial management, and capital allocation.

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