Draka Nets New Marine Cable Order for Royal Boskalis Vessel

Draka Offshore announced today that Keppel Singmarine has selected Draka as a cable supplier for its production of Hull 362 for Royal Boskalis Westminster.

“It is always gratifying to receive orders from a renowned shipbuilding yard like Keppel Singmarine,” stated Patrick Ang, vice president of the marine segment for Draka Offshore. “We strive to provide our customers with the best quality product and consistent on-time service and it’s nice to receive validation of these efforts by a leader like Keppel Singmarine.”

The contract requires Draka to deliver the first batch of cable during first quarter 2011 which is being manufactured at the company’s Asian marine cable manufacturing facility located in Suzhou, China.

Quality, On Time Performance

Keppel Singmarine has developed a reputation for delivering quality vessels on time with their customers. “We take pride in helping our customers develop strong reputations,” add Ang. “We work hard to make sure our customers projects are done on time and with good quality.”

Royal Boskalis Westminster awarded Keppel Singmarine with the contract to construct a 159-m (522 ft) long rock dumping fallpipe vessel first quarter 2010. The vessel will have a 24,000 ton carrying capacity, features propulsion machinery, special rock handling equipment, and a flexible fall pipe with an ROV for positioning.

About Draka Offshore:

Draka Offshore is a full service, engineering leader that delivers complete and highly valued cabling solutions to the offshore wind, oil and gas and subsea markets. Draka has 11 production facilities and distribution in all major oil and gas markets. The division has more than 100 products available that meet the strict SATS, IEEE, IEC and NEK industry standards, abide by LRS, ABS, DNV, BV & GL rules and comply with U.S. and Canadian Coast Guard regulations that govern the use of wire and cables. Draka Offshore is a part of the Industry and Specialty Group of Draka Holding N.V. For more information about Draka Offshore please visit www.DrakaOffshore.com.

About Draka Holding N.V.:

Draka Holding N.V. (Draka) is the holding company of a number of operating companies that are active worldwide in the development, production and sale of cable and cable systems. Draka’s activities are divided into three groups: Energy & Infrastructure, Industry & Specialty and Communications. Within these three groups, the activities are organized into divisions. Energy & Infrastructure consists of the Europe and Asia-Pacific divisions; Industry & Specialty consists of the Aerospace, Automotive, Engineered Specialties, Elevator, Renewable Energy and Offshore divisions and the Communications Group is comprised of the Telecom Solutions, Multimedia and Specials, Americas and Optical Fiber divisions.

Headquartered in Amsterdam, Draka Holding N.V. has 68 operating companies in 31 countries throughout Europe, North and South America, Asia and Australia. Worldwide, the Draka companies employ approximately 9,400 people. In 2009, Draka reported revenues of Euro 2.0 billion and net income of Euro 48.3 million (excluding non-recurring items).

Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed on NYSE Euronext Amsterdam. The company is included in the Next150 and the AMX index (Amsterdam Midkap index. Options on Draka shares are also traded on the NYSE Euronext Amsterdam Derivative Markets.


Source: drakaoffshore, January 13, 2011