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4th July 2025 - Nekkar ASA’s subsidiary Syncrolift AS has been awarded a
contract to deliver two ship transfer systems to Dubai Maritime City (DMC) a
specialized maritime zone in the United Arab Emirates.
The total contract value for Syncrolift is USD 5 million. The systems will be
delivered in the beginning 2026. Syncrolift will conduct project management and
engineering from its headquarter and Innovation Centre in Vestby, Norway.
“DMC continues to showcase its satisfaction with and trust in Syncrolift as a
critical supplier. Continuous repeat business from DMC is a testament to the
Syncrolift team’s ability to deliver. We are very pleased with this latest award
and our general global win rate in this market” says Rolf-Atle Tomassen,
managing director of Syncrolift AS.
This latest contract where DMC has decided to buy two more transfer systems,
follows an award in March 2024 for delivery of an identical ship transfer system
to DMC. In addition, Syncrolift in September 2024 announced a comprehensive
five-year service agreement with DMC for their shiplifts and transfer systems.
In December 2022, Syncrolift also received a USD 10 million letter of award to
modernize two shiplift systems at DMC. These shiplifts has been successfully
commissioned by the Syncrolift team.
“Dubai Maritime City is a strategically located and continuously expanding
commercial port. The renewed trust in Syncrolift highlights the established
footprint in the commercial shiplift market, in addition to its leading role in
the naval defence industry” says Ole Falk Hansen, CEO of Nekkar ASA.
Syncrolift is the world’s leading manufacturer of shiplifts and transfer systems
having won 60 percent of all shiplift contracts during the past ten years.
Syncrolift holds a leading position in the naval-based defence industry, as well
as in the commercial shiplift market where DMC is an established and long-term
customer. Syncrolift is a wholly owned subsidiary of Oslo-listed Nekkar ASA.
UPDATE TO CONTRACT ANNOUNCEMENT POLICIES:
In order to increase transparency and awareness surrounding contract award
announcements from operating companies, Nekkar ASA has updated its Investor
Relation policy with the information provided below. This information can also
be reviewed at
Nekkar.
Contract announcement policy:
Nekkar ASA comprises multiple operating companies across different industries
and with a different level of company maturity. This means that the nominal
value of a single contract and its ability to impact overall company perception
will differ across companies, highlighting the need for a case-by-case
consideration in many cases.
Syncrolift, Nekkar ASA’s largest and most mature operating company, is different
from the other operating companies in this regard with its size, maturity,
global position and influence on overall Nekkar performance. Nekkar ASA has
therefore separated contract announcement thresholds into two brackets as per
below: (i) Syncrolift awards, (ii) all other awards.
For Syncrolift contract awards, values above NOK 50 million will be subject to
regulatory stock exchange announcements in addition to updates on the Nekkar
webpage and in social media. Contract awards with a value above NOK 20 million
(but below NOK 50 million) will be reported as non-regulatory press releases, in
addition to updates on the Nekkar webpage and in social media. Awards below NOK
20 million will be subject to social media and webpage announcements on a
case-by-case basis.
For contract awards in other operating companies, the differentiated nature and
maturity of the companies means a strategic consideration on a case-by-case
basis will be a more prudent approach. Contracts with relatively little revenue
value may for example still be deemed strategically important. If so, awards of
low nominal value may still be published as a non-regulatory press release.
The URLs for Nekkar ASA webpage and social media postings are:
Webpage: Nekkar
LinkedIn: Nekkar | LinkedIn
(ENDS)
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
CONTACTS
ABOUT NEKKAR ASA
Nekkar (OSE: NKR) is an industrial long-term owner of ocean-based technology
companies. The company invests in and develops technology businesses within
sustainable oceans, robotics and intelligent logistics, and digital solutions.
With a 50-year industrial heritage from Syncrolift, Nekkar applies an active
buy-to-own strategy to build long-term value. The group supports empowered
operating companies with a strong balance sheet and reinvests strategically to
ensure profitability and sustainable growth. As a publicly listed company,
Nekkar has a proven track record of shareholder value creation through
disciplined M&A, financial management, and capital allocation.
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