HOUSTON, Jan. 30 /PRNewswire-FirstCall/ -- Patriot Mechanical Handling
Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and
services to the oil and gas industry, is pleased to announce that it has
received an order valued at $12.4 million USD from Keppel FELS in Singapore.
The order is for 2 rig sets, comprising a complete mechanical handling
package, for new build semi-submersibles currently on order to Keppel FELS
from ENSCO International, Inc.
Paul Findlay, CEO of Patriot stated, "This order is extremely significant
in that we will provide a complete package for all handling operations on and
around the rigs. We are very pleased to have the opportunity to work with
Keppel FELS again, and to meet their mechanical handling equipment needs."
Findlay added, "This order exemplifies and reinforces our strategy of pushing
the complete packaging of our equipment for mechanical handling solutions to
the offshore drilling industry. We are now aligned with the offerings of
other companies in our industry. Combined with our streamlined operational
structure, this product offering gives us the ability to be a strong
competitor."
The order calls for Patriot to deliver a Riser Gantry crane, marine deck
cranes, BOP Handling, and tree handling systems, and to provide training,
spare parts and commissioning services. Delivery of the first rig set is
scheduled for second quarter 2007, with the second rig scheduled for
approximately third quarter 2008.
Keppel FELS is a wholly-owned subsidiary of Keppel Corporation, through
Keppel Offshore & Marine, a leader in offshore rigs, ship repair and
conversion and specialized shipbuilding. Keppel O&M's near market, near
customer strategy is bolstered by a global network of 17 yards in the Asia
Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and North Sea
regions. Integrating the experience and expertise of its yards worldwide, the
group aims to be the provider of choice and partner in solutions for the
offshore and marine industry.
About Patriot Mechanical Handling
Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc.
(PMH) is a comprehensive engineering and product supplier for all mechanical
handling solutions in the oil and gas industry. In addition to this, Patriot
is a licensed representative for some of the finest & most well established
brands in the lifting and mechanical handling business. Our success is based
upon effectively meeting the customer's needs prior to, during and most
importantly after the product has been delivered. Our personalized service is
unrivaled. We frequently monitor the quality of our products to insure our
customer's satisfaction, and offer equipment that is guaranteed safe for use
and fit for purpose.
More information is available by contacting the company directly.
Information is available on the web at: http://www.patriotmh.com.
Contact:
Patriot Mechanical Handling, Inc.
Tel: 281-445-4745
Fax: 281-445-9839
E-Mail: info@patriotmh.com
Global Marine Energy plc
Philip Wood, Chairman
Tel: 01274 531 862
Capital Group Communications Inc
(415) 843-0200 office
(415) 843-0214 Fax
kelly@capitalgc.com
This press release contains information that constitutes forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Any such forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from any future results described within the forward-looking
statements. Risk factors that could contribute to such differences include
those matters more fully disclosed in the Company's reports filed with the
Securities and Exchange Commission. The forward-looking information provided
herein represents the Company's estimates as of the date of the press release,
and subsequent events and developments may cause the Company's estimates to
change. The Company specifically disclaims any obligation to update the
forward-looking information in the future. Therefore, this forward-looking
information should not be relied upon as representing the Company's estimates
of its future financial performance as of any date subsequent to the date of
this press release.
SOURCE Patriot Mechanical Handling, Inc.
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Related links:
http://www.cinapsys.com
http://www.patriotmh.com
CONTACT:
Patriot Mechanical Handling, Inc., Tel -
+1-281-445-4745, Fax - +1-281-445-9839, info@patriotmh.com; or
Philip Wood, Chairman of Global Marine Energy plc,
+01274-531-862; or Capital Group Communications Inc, Office -
+1-415-843-0200, Fax - +1-415-843-0214, kelly@capitalgc.com
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