FEDERAL INTERNATIONAL (2000) LTD
PRESS RELEASE - FEDERAL
INTERNATIONAL'S SUBSIDIARY SECURES US$8 MILLION PROCUREMENT CONTRACT FOR
TOTALFINAELF E&P INDONESIE
Mainboard-listed Federal International (2000) Ltd ("Federal"), an
established flowline control products distributor and service provider
supporting the oil and gas and related industries in the region, announced today
that its subsidiary, Federal Hardware Engineering Co Pte Ltd ("FHE"),
has secured a US$8 million contract with PT Gunanusa Utama Fabricators ("Gunanusa").
The contract, which is for a period of 15 months commencing April 23, 2001, is
to supply materials and services to TotalFinaelf E&P Indonesie's Peciko
Development Project Phase 3 PCK3/EPSC 1 satellite wellhead platform located in
Indonesia. Under the contract, FHE will supply all materials and services
required for the project.
This contract is the second contract secured by FHE in a period of 3 months. FHE
had earlier signed another contract worth US$12 million in January 2001 with
Gunanusa to supply all piping materials and fittings, structural steel and
rolled cans and miscellaneous items for Total Indonesie's Tunu Phase 8 project
for compression platform located in East Kalimantan, Indonesia.
"We are all delighted with winning this contract as it once again
demonstrates our strengths in procurement and servicing in the oil and gas
industry. Securing this contract is also a barometer of our growth prospects and
the robust growth of the industry," said Mr K K Koh, Federal's Executive
Chairman and CEO.
About Federal International
Federal is principally involved in the distribution of flowline control products
(including valves, structural steel, steel flanges/connectors and pipe fittings)
to the oil and gas, power, chemical and pharmaceutical industries.
Gunanusa, a key customer of Federal, is mainly invovled in executing large
turnkey projects in offshore platform projects, container cranes, boilers and
Issued on behalf of Federal International (2000) Ltd
By Strategem Consultants Pte Ltd
For further informatiuon, please contact:
Ms Gwen W Ling/Tham Moon Yee
Tel: 227 0502 Fax: 227 5663
April 26, 2001