INCUS INVESTOR : New Contracts to Scana Propulsion

Scana Propulsion, a daughter company of INCUS Investor ASA has succeeded to secure more contracts for propulsion systems to newbuildings within the fishing vessel segment. The contract partners are MAN Diesel & Turbo SE and Kleven Verft. The total value of the contracts is approx. 15 mill NOK.

Scana Propulsion and MAN Diesel & Turbo SE have entered into agreement for delivery of propulsion system for two new trawlers to be contracted at Karstensens Skibsværft A/S. Scana Propulsion shall deliver gear, propeller and remote control system from the production facilities in Norway. Delivery is in the third quarter 2017.

Scana Propulsion and Kleven Verft have entered into agreement for delivery of gear, propeller and remote control system to DESS Aquaculture Shippings new FHV ship. Delivery will be in second quarter 2107.

-We are proud to be chosen to deliver equipment to even more vessels within fishing and aquaculture, and grateful for the trust our customers have shown us, says Hallvard Pettersen, managing director of Scana Volda AS.

-Scana Propulsion has won several important contracts for deliveries to fishing vessels in recent months, which confirms the strong position the company holds in this segment. Activities at Scana Propulsion is divided between new sales and service/aftermarket. In a tight market there is fierce competition among the market's leading players. The contracts won during the last months on new construction projects and retrofit projects, confirms Scana Propulsion's competitiveness ', says Pettersen.

For further information, please contact:

Mr. Hallvard Pettersen, Managing Director, Scana Volda AS, Tel: +47 992 65 442

Mr. Inge Bøen, CEO, Scana Propulsion AS, Tel: +47 908 31 549