MIS Reports 26% Revenue Growth in 2008
MIS Co. Ltd. Inc. (OSE: MIS) reported record fourth quarter and fiscal year revenues of $125.1m and $387.5m, respectively and closes 2008 with a net profit of $8m and a record quarterly net profit of US$8m in Q4. This strong revenue increase and highest ever quarterly net profit is primarily driven by closing increasing volumes of contracts for the New Build Rigs value stream while maintaining MIS' market share in its traditional works value streams: Rig Refurbishment, EPC and Site Projects, Pressure Vessel, Process and General Fabrication and Technical and Safety Services. The first New Build Rig to be delivered by MIS (Hull #104) was completed with the issue of an ABS Class Certificate and formal Acceptance for Delivery Protocol agreed with MIS' client Seawolf Oilfield Services.
Lincoln Ahead Of Schedule
USS Abraham Lincoln (CVN 72) left the dry dock on Dec. 18, ahead of schedule and under budget becuase Puget Sound Naval Shipyard and Intermediate Maintenance Facility (PSNS & IMF) cut the time of ship tank maintenance by more than half. Partnering with Ship’s Force and the Lincoln Project Team, the Tank Value Stream Team accomplished the goal. Through the Lean Continuous Improvement process, the teams completed 18 tanks in 89 days. “Value Streams are main branches of maintenance work that have been identified individually for process improvement through lean technology,” explains Mark Winkler, the team leader. “The goal is to provide improved products and cost performance to the customer. Lincoln's Commanding Officer, Capt.
