OPCO wins contract to build 14 deck houses from Hyundai-Vinashin Shipyard Co., Ltd.

On October 19, 2010, Oriental Precision & Engineering (“OPCO” KOSDAQ 014940) signed a twenty million-dollar contract to construct fourteen of the deck houses for Hyundai-Vinashin Shipyard Co., Ltd. (“HVS”)

The deck houses will be built in Vietnam by Oriental Vietnam Precision & Engineering, OPCO’s Vietnamese local subsidiary, and the first of fourteen units is scheduled to be delivered starting January 2011.

Oriental Vietnam Precision & Engineering Co., Ltd. (“VOPCO”) is a trusted subcontractor for HVS, and the company manufactures all of the deck houses for the ships built by HVS. Oriental Vietnam Precision & Engineering, OPCO’s Vietnamese subsidiary, was established on September of 2008 with the capital of 1.2 million US dollars; and the company specializes in producing on-deck superstructures including deck houses, engine room casings, and funnels.

Image: Oriental Vietnam Precision & Engineering’s Vietnamese manufacturing plant