A venture between TTS and Keyon, the Chinese steel structure fabricator, is expected to offer significant contribution to TTS’ worldwide production capacity.
The TTS Keyon Marine Equipment manufacturing facility will have a potential capacity of 35,000 tonnes of steel, employing 260 people and fabricating hatch covers, RoRo equipment and cranes.
“Over the past few years we’ve seen significant demand from our customers to offer a full service package, managing a project from initial design through to completion,” said Stellan Bernsro, Head of TTS Dry Cargo division. “This joint venture will further enhance our capacity to meet the market demand, also giving us better control of project execution while bringing our technical team closer to the fabrication process.
“We already have a steady flow of orders which we currently subcontract to Keyon. The fact that we already have this established relationship is crucial to the success of the venture.”
Creating a steady and continuous capacity for TTS European and Asian markets, the company will manufacture goods at a significant cost competitive level using TTS' production technology and experience. Furthermore, the establishment of TTS Keyon Marine Equipment is projected to double the output of manufactured products, with the company already holding orders in excess of 20,000 tonnes of steel structures for delivery in 2008 and 2009.
“This investment will bring our design and production knowledge together, bringing about overall improved technology, simplicity and continued improvement in quality,” concluded Bernsro. “With the increase in demand from our markets and a management team of highly experienced individuals, I have every faith that TTS Keyon will be a success.”
-ENDS-
Notes for Editors
About TTS Marine ASA
TTS Marine ASA, the parent company of the TTS group was established in 1966 with company headquarters in Bergen, Norway. TTS Marine ASA has been listed on the Oslo Stock Exchange since 1995.
The TTS Group is an international technology-based company, supplying handling equipment to the marine and offshore industry. Working closely with customers to devise intelligent and innovative handling solutions, TTS offers the expertise to improve productivity, quality and system capacity, so increasing profitability and competitiveness. The close flexible working relationships within the group enable the deployment of complete project teams across a range of fields.
Bergen, 25 October 2007
For more details, contact:
Stellan Bernsro
Head of TTS Dry Cargo division
Tel: +46 705 40 49 68
Email:stellan.bernsro@tts-se.se
