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Scana ASA ( (DE:1MP) ) has issued an update.
Scana-owned PSW Power & Automation has secured a significant contract to design, produce, and install six E-House modules for an offshore project in the Gulf of Mexico. This contract, valued between NOK 25 million and NOK 75 million, will enhance Scana’s order reserve, which currently stands at approximately NOK 1.24 billion. The project, set to begin immediately, is expected to be completed by the second quarter of 2026, potentially strengthening Scana’s position in the offshore energy sector.
More about Scana ASA
Scana ASA is an industrial company specializing in technology and services for the energy and offshore industries. With a history dating back to the early 1900s, Scana has established itself as a leader in technology and innovation, focusing on quality and value creation. Headquartered in Bergen, the company employs over 600 people. PSW Power & Automation, a subsidiary of Scana, provides solutions in electrification and renewable energy, with expertise in electrical power systems and infrastructure both in Norway and internationally.
YTD Price Performance: -47.04%
Average Trading Volume: 524,586
Current Market Cap: NOK702.1M
For detailed information about 1MP stock, go to TipRanks’ Stock Analysis page.