Lamprell Plc (LAM.L), a provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, reported a stable trading position with an unchanged full-year 2012 forecast.
The company had its naming ceremony for the Windcarrier 2 project on January 19th of this year, with several senior management members from the customer, Fred Olsen, present. The Windcarrier 2 vessel left the Jebel Ali facility within the last few days and has commenced its final sea trials prior to completion. The Group said it is on track to deliver the vessel to the customer as scheduled on February 15, 2013.
On January 2, 2013, Lamprell announced obtaining a waiver from its lenders to certain financial covenants in its existing facilities that were due to be tested on December 31, 2012. The company is still in talks with its lenders concerning the re-financing of its debt and has made good progress to date.
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