Last checked at 1 Mar 2017 07:00
1 March 2017
JAMES FISHER AND SONS PLC (FSJ.L)
SaTURATION DIVING CONTRACT
James Fisher and Sons plc (FSJ.L) ("JFS") today announces that its joint venture company, Wuhu Divex Diving Systems Limited, has been awarded a contract by Shanghai Salvage to supply a mobile, 12 man saturation diving system capable of diving to depths of 300m. The system is due for delivery in the second half of 2018. Mobile systems can be deployed on several vessels in the Shanghai Salvage fleet and support salvage, subsea installation and intervention projects in an efficient and cost-effective manner.
Government owned Shanghai Salvage is one of the biggest professional salvage companies in China and in November 2016, the Group's subsidiary, JFD, was awarded a contract to build a 24 man saturation diving system rated for diving support to depths of 500m.
Nick Henry, Chief Executive Officer of JFS said:
"We are delighted that our joint venture, Wuhu Divex Diving Systems Limited, which is dedicated to the Chinese market, has won its first contract for a significant saturation diving system."
Contacts
James Fisher and Sons plc
| Nick Henry | CEO | 020 7614 9508 |
FTI Consulting
| Richard Mountain Susanne Yule | 0203 727 1374 |
Note
Wuhu Divex Diving Systems Limited is a joint venture between JFD, a subsidiary of James Fisher and Sons plc and Wuhu Diving Equipment Factory, a subsidiary of Shanghai Salvage Company (SSC) and is the only company in China specialising in the manufacture of heavy diving equipment. Wuhu Divex Diving Systems Limited, which was established in December 2016, is dedicated to the assembly of advanced diving systems for the Chinese market.