Gunnebo Industrier AB awarded multi-year contract from National Oilwell/Varco worth $3,400,000 USD

Gunnebo Industrier’s Business Unit Blocks was recently awarded a multi-year contract from National Oilwell/Varco to supply ninety-five inch (95’’) diameter sheaves with a value of $3,400,000 USD.

Gunnebo Industrier’s Business Unit Blocks consists of the company Gunnebo Johnson located in Tulsa, Oklahoma, USA. The sheaves from Gunnebo Johnson will be used in motion compensation equipment produced by National Oilwell/Varco for use on five offshore semi-submersible drilling rigs. Upon completion, the rigs will be capable of drilling for oil and gas in water depths up to twelve thousand feet. “This is a large and strategically very important order for us”, said Mr. Bill Shenloogian, Head of Gunnebo Industrier’s Business Unit Blocks. "While Gunnebo Johnson's market leadership in the on-shore construction related segments is well documented, the award of a contract of this magnitude and value, coming from the off-shore market, is especially gratifying", concludes Mr. Shenloogian. “2005 was a good year for the Group and for the Business Unit Blocks”, says Mr. Christer Lenner, President and CEO, Gunnebo Industrier AB. “The Group’s high quality products, extensive experience and professional support often proves decisive when our clients go through their decision making processes before signing the deals. That is a confirmation that our long-time efforts are paying off and it makes us confident and even more eager to strive forward”, concludes Mr. Lenner.