ACROMEC Secures Contracts in Healthcare Pharma Industries Totaling S$6.2M

Jul 06, 2018 11:30 JST

Source: AcroMeta Group Limited

SINGAPORE, Jul 06, 2018 - (ACN Newswire) - ACROMEC Limited ("ACROMEC", SGX:43F), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biomedical, research and academia sectors, has secured three new contracts totaling approximately S6.2 million.

The first contract is for additions and alterations to a new endoscopy suite at a medical centre for a repeat customer in the healthcare industry. The project will be carried out in two phases and is expected to be completed by the end of the current financial year ending 30 September 2018 ("FY2018"). This repeat order reflects our customer's trust in us to continue delivering quality services. The growing healthcare industry will continue to be our area of focus. Barring unforeseen circumstances, it will provide us opportunities, as this industry is supported by infrastructure spending by both the public and private sectors so as to cater to the needs of our ageing population in Singapore.

The second contract is awarded by a multinational corporation customer in the human and environmental health sector. The Group will undertake the process engineering works and also provide furniture for its testing, showcase and research laboratory facilities. This will be a fast paced three-month project and is expected to be completed by the end of FY2018.

In addition, a third contract has been awarded to the Group as the nominated sub-contractor for the fitting out of a cleanroom that complies with Good Manufacturing Practices standards for a biomedical company in the pharmaceutical industry. The contract is expected to be completed by the 1st quarter of the financial year ending 30 September 2019. This win is a testament that our efforts to penetrate the pharmaceutical industry has gained traction.

With these contracts, the Group's order book now stands at approximately S$18 million.

These contracts are expected to contribute positively to the earnings per share and net tangible assets per share of the Group for the FY2018.

None of the Directors of the Company has any interest, direct or indirect, in these contract, other than through their respective shareholdings in the Company. To the best of the Directors' knowledge, none of the controlling shareholders or substantial shareholders of the Company has any interests, direct or indirect, in these contracts, other than through their respective shareholdings in the Company.

About ACROMEC Limited (SGX:43F)

ACROMEC is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMEC's business is divided into two main business segments: (i) Engineering, procurement and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biomedical, pharmaceutical, research and academia, and electronics sectors. ACROMEC counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. For more information, please visit www.acromec.com.

Media and Analysts Contact:

Acromec Limited
Mr Jerry Tan
Chief Financial Office
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Waterbrooks Consultant Pte Ltd
Mr Ng Tian Khean
Mobile: +65 9640 2808
Email: tk@waterbrooks.com.sg

This media release has been prepared by ACROMEC and its contents have been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this media release.

This media release has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this media release, including the correctness of any of the statements or opinions made or reports contained in this media release.

The contact person for the Sponsor is Ms Alicia Sun (Telephone: +65 6532 3829) at 1 Robinson Road #21-02 AIA Tower, Singapore 048542.

Source: AcroMeta Group Limited
Sectors: Healthcare & Pharm, Construct, Engineering