Prenumeration
Beskrivning
| Land | Finland |
|---|---|
| Lista | Small Cap Helsinki |
| Sektor | Energi & Miljö |
| Industri | Miljö & Återvinning |
Lamor Corporation Plc | Inside Information | December 15, 2024 at 20:00:00 EET
Inside Information: Lamor completes negotiations on allocation of responsibilities with NEOM Company
Lamor Corporation Plc has agreed on the new allocation of responsibilities with NEOM Company. According to the agreement, Lamor will supply oil spill response technology worth EUR 9 million to NEOM Company. Consequently, Lamor has adjusted the value of NEOM Company's order in its order backlog to reflect the above-mentioned total value of the agreement.
The delivery of the technology has commenced and is expected to be completed during the beginning of the first quarter in 2025. Most of the purchase price will be paid during the fourth quarter of 2024. The deliveries will have a positive impact on Lamor's working capital and cash position.
Previously, on 27 May 2024, Lamor announced that NEOM Company had selected Lamor as the supplier for a significant environmental protection project in western Saudi Arabia. The companies signed an agreement for oil spill response preparedness services and technology for a three-year project valued at approximately EUR 55 million. Additionally, on 10 September 2024, Lamor disclosed that it had received a preliminary proposal from NEOM Company for reducing the responsibilities allocated to Lamor.