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HONG KONG, June 26, 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, 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 Kuwait Drilling Company K.S.C ("KDC"), with a total amount of approximately US$14 million (approximately HK$110 million). Pursuant to the Agreement, Honghua Golden Coast will deliver KDC a unit of 7,000 meters land drilling rig by the first half of 2015.
Mr. Zhang Mi, Chairman of Honghua commented, "Honghua and KDC has established deep parternership for eight years, which fully demonstrated Honghua, as one of the largest global land drilling rig manufacturers, has consolidated its leading position in the Middle East market. In addition, this signed agreement with KDC will further lay down the customer base and cooperation foundation for the Group's offshore business expansion and sales in the local market."
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
https://www.acnnewswire.com
From the Asia Corporate News Network
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