Syncrolift Awarded Contracts Worth Approximately MNOK 390

Syncrolift AS, a subsidiary of Nekkar ASA, has successfully signed two new contracts with a value of approximately MNOK 390.

One of these contracts is a change order to a previously announced contract, and has a value of approx. MNOK 110 with expected delivery in Q4-2022.

The second contract, worth approximately MNOK 280, is a contract for both upgrade and service of an existing Syncrolift® shiplift facility in South East Asia. The upgrade has a planned delivery in 2021, and the service portion of the contract represents significant recurring income for the next 20 years.

"I am very pleased with our achievements despite the challenging business climate we have seen so far in 2020," says Toril Eidesvik, CEO of Nekkar ASA. The new combined upgrade and service contract is a significant milestone for Syncrolift, where our strong market position for newbuilds and upgrades is confirmed and where we have shown our ability to release some of our potential for further growth within our recurring service business. 

The Syncrolift backlog has now passed the 1 billion milestone and reached MNOK 1100 which is all time high.