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TTS Group ASA: New Offshore and Deck crane contracts

TTS Group ASA has, through its Business Unit Offshore, entered into three new
agreements for delivery of offshore and deck cranes with a total order value
of approx. 105 MNOK.

The main contract is with Triyards Marine Services Pte Ltd. in Singapore for
delivery of two active heavy compensated (AHC) subsea cranes for two vessels
contracted by an Indian owner. The deliveries will take place 2ndand
3rdquarter 2016.

The two other contracts are for shipyards respectively in Argentina and
Norway. The Argentinian yard has ordered three deck cranes for a product
carrier. Delivery will be in approx. 10 months. For the Norwegian shipyard
Kleven Verft, TTS will deliver deck cranes for six offshore vessels to be
built for Maersk. The delivery time will be 12-16 months.

TTS has reinforced its position within the midsize crane segments.

- Although the offshore market is in a very vulnerable position, we are
actively working on segments showing growth. One segment is Offshore Support
and Supply Vessels (OSV and PSV), where there is a need for AHC technology on
medium sized cranes with 80-150 tonnes lifting capacity. The order for
Triyards is a result of this, says Björn Anderson, CEO of TTS Group ASA.

Bergen, 15th April 2015

Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01

Contact persons:

Björn Andersson
M: +47 911 33 671

Henrik Solberg-Johansen
M: +47 982 06 438

Miao Reinlund
VP, Communications
M: +47 900 65 883

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 OMX Corporate Solutions on behalf of NASDAQ OMX 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: TTS Group ASA via Globenewswire


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