OSX Announces Execution Plan for 2011-2015
OSX Brasil S.A. (“OSX”) (Bovespa: OSXB3), a Brazilian publicly held corporation focused on the supply of equipment and services to the offshore oil and gas industry, through integrated operations in shipbuilding, chartering of exploration and production (E&P) units, and operation and maintenance (O&M) services, informs its shareholders and the market in general of its Plan of Activities, to be implemented by its subsidiary OSX Construção Naval S/A, for production of offshore oil and gas E&P equipment at its Açu Shipbuilding Unit (“UCN Açu”) up to 2015, in view that the construction of the UCN Açu has now begun.
This plan of OSX is designed to combine:
• The work to construct the largest shipyard in the Americas, in partnership with the world-leading shipbuilding company Hyundai Heavy Industries (“HHI”), in the city of São João da Barra, Rio de Janeiro state;
• Satisfaction of priority demand for oil and gas exploration and production equipment for our anchor customer, OGX Petróleo e Gás; and
• Satisfaction of potential additional demand from new customers in the offshore E&P sector in Brazil.