Ocean Wilsons Holdings Ld TECON Rio Grande Equipment (0191X)

TIDMOCN

RNS Number : 0191X

Ocean Wilsons Holdings Ld

16 February 2017

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Ocean Wilsons Holdings Limited

TECON Rio Grande Equipment

Our principal operating subsidiary, Wilson Sons Limited made the following announcement to the Brazilian and Luxembourg Stock Exchanges.

Wilson Sons Limited (BM&FBovespa: WSON33) announces to its shareholders that on 15 February 2017 that the TECON Rio Grande container terminal took delivery of 3 new ship-to-shore (STS) and 8 rubber-tyre gantry ("RTG") cranes. The equipment, valued at US$ 40 million, forms part of the Company's ongoing commitment to increase productivity and improve efficiency across all its Brazilian port infrastructure assets. The equipment will be installed upon the quay, which together with the dolphin quay extension measures 930m and will increase productivity by 45%. The equipment, which is 85% financed by Santander Brazil and secured by the China Export & Credit Insurance Corporation ("Sinosure"), was purchased from Shanghai Zhenhua Heavy Industries (ZPMC). In addition to the equipment the terminal is acquiring 42 patio tractors and 18 trailers that will further improve productivity. The STS cranes each have 65 tons capacity and can reach up to 22 container rows wide, making them amongst the largest STS cranes currently operating in Brazil.

This represents an important investment in the development of trade capacity for the South of Brazil and reinforces TECON Rio Grande as one of the best equipped terminals in the country.

Also during February, the Wilson Sons container terminal in Salvador will take delivery of 3 electric RTG's valued at US$4.9 million that were also purchased from ZPMC contributing to increases in productivity and efficiency.

Enquiries

Company Contact

Keith Middleton [phone]

Media

David Haggie

Haggie Partners LLP [phone]

Cantor Fitzgerald Europe

   David Foreman, Will Goode (Corporate Finance)                        [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 16, 2017 02:00 ET (07:00 GMT)