ODIM awarded NOK 62 million order in North America

(Hareid – 17 Sept 2008): ODIM has received several new contracts in its Naval & Power sector totaling approximately NOK 62-million. These new orders are shared between two of ODIM’s North American companies, ODIM Spectrum and Numet Engineering.

ODIM Spectrum has received two orders totaling 29-million NOK. One is from Lockheed Martin Corporation for the production of automated towed sonar handling systems and related engineering surfaces for a US Navy ship program. The other is a contract from the U. S. Naval Surface Warfare Center for modifications to ODIM’s existing contract to develop the Organic Cable Reeling Assembly (ORCA), slated for service aboard the Navy’s new Littoral Combat Ship.

“We are very pleased to see continued activity for our products and services in the U.S. and international defence market. Both of these projects also have the potential to lead to additional work for the U.S. Navy”, says Andrew Roy, ODIM’s Senior Vice President Naval & Power.

ODIM’s Numet Engineering division, acquired 30th of April, 2008, has been awarded several competitive tenders from two major Canadian nuclear industry clients totaling 33-million NOK. Atomic Energy of Canada Chalk River Laboratories has awarded Numet a contract for the delivery of components for the next phase of the current legacy waste repackaging program at the research facility. In addition, Ontario Power Generation awarded Numet various contracts for custom engineered products for the handling of nuclear waste at various generating stations.

Roy remarked that, “since acquiring Numet we are seeing increasing activity in the Canadian nuclear market for our products and capabilities. In addition to our core nuclear market activity, opportunities are emerging to participate in development and production of components for the next generation of nuclear reactors. We are also continuing to identify acquisition and/or partnering opportunities in the United States as well as here in Canada to support our growth objectives.”