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HONG KONG, June 25, 2014 - (ACN Newswire) - A leading global land drilling rig manufacturer - Honghua Group Ltd. (Stock Code: 196.HK) ("Honghua" or the "Group"), is pleased to announce that, on 23 June 2014, Honghua Golden Coast Equipment FZE ("Honghua Golden Coast"), a wholly-owned subsidiary of Honghua, entered into a land drilling rig sales agreement (the "Agreement") with Abraj Energy Services LLC ("Abraj"), the largest drilling company in the Sultanate of Oman, with a total amount of approximately US$32 million (approximately HK$251 million). Pursuant to the Agreement, Honghua Golden Coast will provide 2 units of 7,000 meters land drilling rigs to Abraj and deliver them by the first half of 2015.
Mr. Zhang Mi, Chairman of Honghua commented, "We've maintained a close partnership with Abraj. This is the third agreement signed with Abraj since we successfully entered into the market of Sultanate in 2013, which further reflects the high recognitions of the client and local market, strongly motivating us to expand the business in the middle east gulf market in the future."
Contact:
Honghua Group Limited
Ms. Mingjia Ding
Tel: (86 28) 8297 1864
Fax: (86 28) 8297 1850
Email: dingmj@hhcp.com.cn / ir@hhcp.com.cn
Porda Havas International Finance Communications Group
Ms. Cindy Xin Tel: (852) 3150-6771 Email: cindy.xin@pordahavas.com
Mr. Bunny Lee Tel: (852) 3150 6707 Email: bunny.lee@pordahavas.com
Ms. Erin Wu Tel: (852) 3150-6726 Email: erin.wu@pordahavas.com
Ms. Elaine Xu Tel: (852) 3150-6737 Email: elaine.xu@pordahavas.com
Fax: (852) 3150 6728
Topic: Press release summary
Source: Honghua Group Limited
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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