Scana Propulsion, a daughter company of INCUS Investor ASA has succeeded to secure more contracts for propulsion systems to newbuildings within the fishing vessel segment and for important retrofit projects. The contract partners are Ervik Havfiske AS / Tersan Shipyard and Baatbygg AS. The total value of the contracts are approx. 18 mill NOK.

Scana Propulsion and Ervik Havfiske AS of Norway, have entered into agreement for delivery of propulsion system for two longliners to be contracted at Tersan Shipyard in Turkey.  The vessels  will be equipped with 2-speed gearbox, cp-propeller and remote control system from Scana propulsion. The vessels are of MT1112 design from MarinTeknikk AS of Norway.  The equipment for both vessels will be delivered from the premises of Scana Propulsion in Norway, within Q2-2017. The vessels are planned for delivery from the shipyard in Turkey in Q1 2018.

Scana Propulsion and Baatbygg AS, of Norway have signed two contracts for propulsion equipment for retrofit purpose of research vessels for the Norwegian Institute of Marine Research. The contracts comprise a complete propulsion system consisting of cp-propeller, gearbox and control system for upgrading of the 26 year old "R/V Johan Hjort", in addition to a stern thruster to former "R/V Dr. Fridtjof Nansen" which will be renamed "R/V Marie Bonnevie" after conversion.  The deliveries from Scana Propulsion will take place within 2016.

«We are proud and happy to secure further contracts to Scana Propulsion", says Mr Hallvard Pettersen, Managing Director of Scana Volda AS. "Scana Propulsion has recently won several contracts for fishing vessels, and is confirming its strong position in this segment. The business of Scana Propulsion is divided between new sales and service/aftermarket, and the activity from service, maintenance and retrofit is an important part of the business. All contracts are won in strong competition among market leaders in the business, which confirms our competitiveness and competence", says Mr. Pettersen.

For further information please contact:
Mr. Hallvard Pettersen, Managing Director, Scana Volda AS, Tel: +47 992 65 442
Mr. Inge Bøen, CEO, Scana Propulsion AS, Tel: +47 908 31 549

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



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Incus Investor ASA via Globenewswire
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