KLSE (MYR): WASCO (5142)
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BudakXPandai
39 posts
Posted by BudakXPandai > 2016-09-07 08:58 | Report Abuse
The Board of Directors of Wah Seong Corporation Berhad (“WSC”) is pleased to announce that further to its announcements as follows:-
an announcement made on 9 July 2016 in relation to the tender awarded by Nord Stream 2 AG to its pipe coating business unit, Wasco Coatings Europe B.V. (“WCEu”), an indirect wholly-owned subsidiary of WSC incorporated in The Netherlands for the provision of concrete weight coating and storing of pipes for Nord Stream 2 Project; and
an announcement made on 11 August 2016 in relation to a Letter of Intent signed by WCEu and Nord Stream 2 AG to commence mobilization of works for Nord Stream 2 Project pending the finalization of a formal contract to be signed by WCEu and Nord Stream 2 AG,
WCEu has signed the contract with Nord Stream 2 AG (“Contract”) on 6 September 2016 and the contract is valued at approximately EURO 600 million (equivalent to RM2.726 billion based on the exchange rate of EURO 1.00 to RM4.5442).