Thursday, May 19, 2011

Favelle Favco gets RM50.3m contracts for tower cranes

KUALA LUMPUR: FAVELLE FAVCO BHD [] has secured four contracts totaling RM50.30 million to build tower cranes for four clients.

It said on Thursday, May 19 its contract was to build an offshore crane for Keppel Fels Ltd and Cosco (Nantong) Shipyard Co., Ltd.

The other two contracts were with Backam Engineering Corp and Form 700 Pty Ltd to supply a tower crane each.

'The above contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2011 and beyond,' it said.

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