ACROMEC builds order book, clinches 2 contracts worth approximately S$14 million

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ACROMEC Limited (“ACROMEC”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biomedical, pharmaceutical, research and academia sectors, today announced that its wholly-owned subsidiary, ACROMEC Engineers Pte Ltd has secured two engineering, procurement and construction (EPC) contracts totalling approximately S$14 million.

The first project is for Neste Asia Pacific Pte Ltd (“Neste”). In its continued effort to expand and improve their Sustainable Fuel and Oil products, Neste has entrusted ACROMEC to design & build a R&D Laboratory and Regional Office. In line with Neste’s strong position as the 4th most sustainable company globally, ACROMEC offers its expertise in sustainable laboratory solutions with strong emphasis in energy conservation, particularly in HVAC system. This is carried out while addressing the safety requirements of the laboratory facility which has a compressed gas distribution system and which deals with flammable substances.

ACROMEC would undertake full turnkey scope, including numerous number of fume hoods, laboratory furniture solutions, builder’s works, HVAC and control system, an efficient laboratory exhaust system, process system dealing with flammables, new sprinkler tank and distribution, and an intensive electrical system network. The project is to start immediately and is to be completed by the second half of the financial year ending 30 September 2022 (FY2022).

The second project is for Performance Specialty Products (Singapore) Pte Ltd, which is part of the DuPont Group, to construct a chemical laboratory at Solaris @ Kallang. This 600-square-metre lab will be designed for research with toxic chemicals, and the project involves fitting out of low-flow fume hoods, modular laboratory furniture solutions, and gas system with critical exhaust that is able to handle hazardous gas. The project is expected to start immediately and be completed by the first half of FY2022.

Said Mr Lim Say Chin, Executive Chairman and Managing Director of ACROMEC, “We are pleased to have secured these contracts during these challenging times, which is a testament to our customers’ continued recognition and confidence in our capabilities to deliver quality work. We are working hard and we will leverage on our extensive track record and proven expertise to actively pursue more contracts.”

The contracts are expected to contribute positively to the earnings per share and net tangible assets per share of the Group for FY2022.

To the best of the Directors’ knowledge, none of the Directors and controlling shareholders of the Company have any interests, direct or indirect, in these contracts, other than through their respective shareholdings in the Company.

About Acromec Limited (SGX Stock Code: 1CH1)

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 Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Waterbrooks Consultant Pte Ltd
Mr Wayne Koo
Tel: +65 6958 8008 / +6593388166
Email: wayne.koo@waterbrooks.com.sgquery@waterbrooks.com.sg

This media release has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

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