PSW Technology has signed a contract to perform property management, operations, and maintenance of a larger real estate portfolio at Mongstad, Ågotnes, and Bergen Nord. The contract will be placed in a subsidiary of PSW Technology. The purpose of this new company is to manage, operate, and maintain strategically important properties associated with coastal bases along the Norwegian coastline.

The contract is of large (3) value for the company and has a duration of 10 years, with a mutual notice period of one year. The contract is scheduled to commence from Q1 2024.

“This contract enables PSW Technology to further develop and expand its portfolio with long-term agreements and optimize the utilization of its capacity. It also gives a crucial foothold and a strategically important position along the Norwegian coast,” says Richard Cornell, Managing Director in PSW Technology.

“We are very pleased to sign a contract contributing to an increased order backlog and providing stable revenues over time,” says Pål Selvik, CEO in Scana.

(1) A sizeable contract is defined to be between NOK 20 million and NOK 50 million.

(2) A substantial contract is between NOK 50 million and NOK 150 million.

(3) A large contract is over NOK 150 million.

For more information, please contact:

Pål Selvik, Chief Executive Officer, Scana ASA, +47 970 46 502

Richard Cornell, Managing Director, PSW Technology AS, +47 952 31 652