SOURCE: Patriot Mechanical Handling, Inc.

January 27, 2006 16:05 ET

Patriot Mechanical Handling Announces $12.4 Million Mechanical Handling Equipment Package Order From Keppel FELS

Singapore Bound Order Creates New Potential Market Opportunities for Company's First Packaged Solution

HOUSTON, TX -- (MARKET WIRE) -- January 27, 2006 -- Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order valued at $12.4 million USD from Keppel FELS in Singapore. The order is for 2 rig sets, comprising a complete mechanical handling package, for new build semi-submersibles currently on order to Keppel FELS from ENSCO International, Inc.

Paul Findlay, CEO of Patriot stated, "This order is extremely significant in that we will provide a complete package for all handling operations on and around the rigs. We are very pleased to have the opportunity to work with Keppel FELS again, and to meet their mechanical handling equipment needs." Findlay added, "This order exemplifies and reinforces our strategy of pushing the complete packaging of our equipment for mechanical handling solutions to the offshore drilling industry. We are now aligned with the offerings of other companies in our industry. Combined with our streamlined operational structure, this product offering gives us the ability to be a strong competitor."

The order calls for Patriot to deliver a Riser Gantry crane, marine deck cranes, BOP Handling, and tree handling systems, and to provide training, spare parts and commissioning services. Delivery of the first rig set is scheduled for second quarter 2007, with the second rig scheduled for approximately third quarter 2008.

Keppel FELS is a wholly owned subsidiary of Keppel Corporation, through Keppel Offshore & Marine, a leader in offshore rigs, ship repair and conversion and specialized shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 17 yards in the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.

More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

Contact Information

  • Contact:
    Patriot Mechanical Handling, Inc.
    Tel: 281-445-4745
    Fax: 281-445-9839
    E-Mail: Email Contact

    Global Marine Energy plc
    Philip Wood, Chairman
    Tel: 01274 531 862

    Capital Group Communications Inc
    (415) 843-0200 office
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    Email Contact