INCUS INVESTOR ASA - Scana Propulsion continues to progress

Scana Propulsion, a daughter company of INCUS Investor ASA, continues to secure new contracts within the fishing vessel segment. Scana Propulsion has so far this year, secured orders for 17 vessels. Our contract partners are MAN Diesel & Turbo SE and Simek AS. The total value is approximately 13 mill NOK.

Scana Propulsion and MAN Diesel & Turbo SE has entered into an agreement about delivery of a complete propulsion system, consisting of gearbox, propeller and remote control system for a new trawler. The trawler will be built at Karstensens Skibsværft A/S in Denmark. The delivery will take place within the first quarter of 2018.

Scana Propulsion and Simek AS entered into an agreement of the delivery of gearbox, propeller and remote control system for Sealord Fishing Ltd., New Zealand. The deliveries will take place in 3rd quarter 2017.

-We are proud to deliver equipment to even more fishing vessels, and we are particularly proud of being selected as supplier to a New Zealand vessel. This show our strong brand and that we are competitive in segments with high quality demands», says Mr. Hallvard Pettersen, Managing Director at Scana Volda AS.

-As a consequence of the downturn in the offshore market, we have focused towards other segments and it is pleasant that we experience success both in our domestic as well as the international market», Mr. Pettersen concludes.

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 Corporate Solutions on behalf of Nasdaq 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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