Leading engineering services company Neptune Marine Services Limited (ASX:NMS) announces that it has taken delivery of its new DP1 capable construction support vessel, the MV Neptune ROV Supporter, following completion of the acquisition on 4 June, 2008 in Singapore.
Neptune paid SGD$8.5 million (AUD$6.7 million)* for the vessel in cash from the company’s existing capital reserves. As part of the acquisition, the vessel, formerly known as the MV ROV Supplier, was renamed the MV Neptune ROV Supporter.
The MV Neptune ROV Supporter will now undergo a program of refurbishment and be permanently fitted with one of Neptune’s new Swift XL Work Class ROV systems. Managing Director and CEO of Neptune Marine, Christian Lange, said the MV Neptune ROV Supporter was an integral component of the company’s strategy for growth that would add value to and improve the delivery of its integrated services. “Our vessel supply and ROV strategies will be major growth drivers for the company into the future as the demand for these services continues to outstrip supply,” he added.
* Foreign exchange rate of SGD$1.2548 as at 5 June 2008 for AUD$ : SGD$ equivalent
