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SINGAPORE, July 6, 2018 – (ACN Newswire) – ACROMEC Limited ("ACROMEC", SGX: 43E), an engineering services provider specializing in the field of controlled environments, primarily in the medical sector, Biomedical, research and academic, obtained three new contracts totaling approximately $ 6.2 million.
The first contract concerns additions and modifications to a new suite of endoscopy in a medical center for a recurring client in the healthcare industry. The project will be in two phases and is expected to be completed by the end of the current fiscal year ending September 30, 2018 ("Fiscal Year 2018"). This repeated order reflects our customers' confidence in us to continue to provide quality services. The growing healthcare industry will continue to be our area of interest. Unless there are unforeseen circumstances, this will provide us with opportunities as this industry is supported by public and private sector infrastructure spending to meet the needs of our aging population in Singapore.
The second contract is awarded by a multinational client in the field of human and environmental health. The Group will undertake process engineering and will also provide furniture for its test, demonstration and research laboratory facilities. It will be an accelerated three-month project expected to be completed by the end of the 2018 fiscal year.
In addition, a third contract has been awarded to the Group. as a designated subcontractor for the layout of a clean room meeting the standards of good manufacturing practice of a biomedical company of the pharmaceutical industry. The contract is expected to be finalized in the first quarter of fiscal year ended Sept. 30, 2019. This victory is proof that our efforts to penetrate the pharmaceutical industry have gained momentum.
With these contracts, the Group's backlog amounts to approximately 18 million Singapore dollars.
These contracts are expected to contribute positively to earnings per share and to the Group's net tangible fixed assets per share for the fiscal year 2018.
None of the directors of the Company have any interest, direct or indirect, in these contracts, other than by their respective interests in the Company. To the best of the Directors' knowledge, no majority shareholder or majority shareholder of the Company has any interest, direct or indirect, in these agreements, other than by their respective interests in the Company.
About ACROMEC Limited (SGX: 43F)
ACROMEC is a specialized engineering services provider with over 20 years of experience in the field of Controlled Environments. Over the years, the Group has acquired expertise in the design and construction of installations requiring controlled environments such as laboratories, medical and sterile facilities and clean rooms.
The ACROMEC activity is divided into two business sectors: (i) Engineering, procurement and construction services, specializing in architectural, mechanical, electrical and processing work in controlled environments ; and (ii) the maintenance and repair services of the facilities and equipment of the controlled environments and their supporting infrastructure.
The Group mainly serves the health, biomedicine, pharmacy, research, education and electronics sectors. ACROMEC's clients include hospitals and medical centers, government agencies, research and development companies and agencies, multinational research and development units, higher education institutions, pharmaceutical companies, semiconductor manufacturing companies and corporations. multinational engineering. For more information, visit www.acromec.com.
Contact for Media and Analysts:
Acromec Limited
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: [email protected] [19659002] Waterbrooks Consultant Pte Ltd
Mr. Ng Tian Khean
Mobile: +65 9640 2808
Email: [email protected]
This press release has been prepared by ACROMEC and its contents has been reviewed by the Company's limited partner, SAC Capital Private Limited (the "Limited Partner"), to comply with the relevant rules of the Singapore Stock Exchange ("SGX-ST"). Sponsor has not independently verified the content of this press release.
This press release has not been reviewed or approved by the SGX-ST. Sponsor and SGX-ST do not assume any responsibility for the contents of this press release, including the accuracy of any statements or opinions made or reports contained in this press release.
The contact person for the sponsor is Ms. Alicia Sun (Telephone: +65 6532 3829) at 1 Robinson Road # 21-02 AIA Tower, Singapore 048542.
Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com
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