Tuesday, October 27, 2015

Pteris Global wins three contracts worth $64.2 mil

Pteris Global, the integrated airport support equipment and logistics solutions provider, has secured three contracts worth a total of $64.2 million from customers in China and the US.

The first contract worth RMB144.8 million ($31.9 million) involves the design, supply, installation and testing of Passenger Boarding Bridges or PBB and ancillary equipment for the new Terminal 3 at Wuhan Tianhe International Airport in China. The PBB are slated for delivery and installation by Oct 31.

The group also won a contract package worth RMB119.5 million for the supply and installation of new PBB for Terminal 2 at Guangzhou Baiyun International Airport. The PBB are slated for delivery and installation in June 2016.

Both contracts were awarded by the Chinese government.

Meanwhile, the group’s US subsidiary, Pteris Global (USA) Inc., won US$4.3 million ($6 million) worth of orders of baggage handling system as part of the revitalisation of Terminal 3 of Phoenix Sky Harbour International Airport in Arizona, US.

The contract as part of a US$17.3 million Letter of Intent signed with the main contractor, Hunt Austin in February 2015. The scope of work under the signed agreement is slated for completion in 2019.

Pteris Global last closed at 56 cents.

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