Patriot Mechanical Handling Receives Order
Wednesday, December 21, 2005
Patriot Mechanical Handling Inc. announce that it has received an order from Dalian New Shipbuilding, based in Dalian, China. This is an expansion of an existing relationship with Dalian, which the company expects to continue to grow.
The Dalian order calls for Patriot to deliver 4 CTU's (Conductor Tensioning Systems) on the new builds being purchased by Noble drilling, Seatankers, and COSL respectively. The order is valued at $3,286,000. Additional options are being considered by Dalian, which would increase the order amount accordingly. Patriot also obtained a Memorandum of Understanding (MOU) to supply Dalian with additional Subsea handling equipment over the next 12 months as needed.