Kreuz wins 4th subsea installation contract this year worth $8.1m

Kreuz Holdings says it has secured its fourth subsea installation contract win this year worth US$6.23 million ($8.1 million) from a leading offshore company in the oil and gas business located in East Asia. The subsea installation works, which wil be performed in Southeast Asia, are scheduled to start in 4QFY2011 with completion in 2QFY2012. The latest contract brings the group’s order wins this year to over US$100 million.