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IEV BOOKS IN SALE OF 1,320 MARINE GROWTH CONTROL SYSTEMS FOR 2012

PETALING JAYA, DECEMBER 2012: IEV International Limited (“IEV”), a wholly-owned subsidiary and IEV (Malaysia) Sdn Bhd, a 49% associate of IEV Holdings Limited wish to announce the sales of  1,320 “ocean-powered” Marine Growth Prevention (“MGP”) systems to 24 structures throughout the Asian region for FY2012.

The 24 structures include 23 offshore platforms and one (1) jetty, out of which 16 were new and 8 were existing structures. The MGP were supplied and installed on new and existing structures as part of IEV’s Structural Integrity Solutions (“SIS”) and Life Extension Solutions (“LES”), respectively.  The utilisation of MGP reduces static, dynamic and hydrodynamic loading and increases fatigue life of platforms. It also reduces the design allowances for additional growth thickness and roughness, which results in cost-efficient fabrication, installation and abandonment costs.

Since 1990, over 28,000 MGPs have been applied to approximately 418 structures worldwide, making use of the free ocean waves and currents to control marine growth on marine structures.