EMS’ $570-million letter of intent

Singapore

SINGAPORE, October 23, 2015 – EMS Group has signed a $570-million binding letter of intent for services at an undisclosed shipyard in Asia, the company announced in a Thursday press release.

The letter of intent requires that EMS Group see to the supply, testing and commissioning for major equipment packages for rigs. The group expects to enter into formal agreements with the undisclosed buyer before the end of the year with first shipment dates slated for June 2017.

EMS Group enlarged after a merger earlier this year between Singapore-listed EMS Energy and engineering and construction company Koastal Group. This merger has allowed the group to take on larger and higher-value projects as an integrated offshore and marine services provider.

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