TTS Stacking Up Orders

TTS Bergen-based supplier of equipment for marine and oil and gas industries TTS Group ASA has signed two supply contracts to equip four car/truck carriers and three cruise vessels with cargo and passenger access equipment. The contracts have a total order value of about USD 41,5 million (NOK 360 million). TTS said it will deliver cargo access equipment to four car/truck carriers (PCTC), which are currently under construction at a South Korean shipyard, with TTS deliveries scheduled to take place during 2016-2018. TTS has in recent years developed a strong position as a preferred supplier within the PCTC market, a position that is further reinforced through this contract, TTS said. Furthermore, the company received a contract for delivery of passenger and cargo access equipment to three cruise vessels currently under construction at a European shipyard. The deliveries will be completed during 2017-2019. TTS Groups activities primarily involve the design, assembly and testing of equipment while, apart from manufacture of certain key components, production is undertaken by a global network of subcontractors.