Sung Kwang Bend (014620) signed a ₩25.49bn stainless-steel butt-weld fittings contract for a Canadian LNG project's second phase, the company disclosed in an August 21 filing. The underlying order is worth about $18.18m.
The customer is the JGC-Fluor construction joint venture. The agreement was signed on August 20, and final delivery is scheduled for April 21, 2027. Sung Kwang Bend (014620) will manufacture the fittings itself.
The filing says the company had not completed a similar contract with this customer during the previous three years. It discloses an advance and payments tied to contract progress.
The order equals about 10.4% of Sung Kwang Bend's (014620) FY2025 consolidated revenue.
The company said the value and delivery period could change as construction proceeds. The won conversion uses an August 20 exchange rate of ₩1,402.50 per dollar.
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| Symbol | Last Price |
|---|---|
| 014620Sung Kwang Bend Co., Ltd. | ₩30,850 +1.5% |