KUALA LUMPUR, Nov. 27 /PRNewswire-Asia/ -- AVEVA (LSE: AVV), the leading supplier of engineering IT systems for the plant and marine industries, announced that key Japanese shipbuilders - Namura Shipbuilding, Universal Shipbuilding Corporation, Shin Kurushima Dockyard, Sumitomo Heavy Industries Marine & Engineering and Imabari Shipbuilding Group - have signed contracts worth over USD2.5 million to extend their use of AVEVA marine solutions. The contracts were made in the first half of AVEVA's financial year ending 30 September 2008.
AVEVA marine solutions were first used in Japan by Kawasaki Shipbuilding Corporation in 1994. Kawasaki has since expanded the use of AVEVA marine solutions to its commercial and naval yards. To date, there are more than twenty Japanese customers who actively subscribe to AVEVA's shipbuilding solutions.
Peter Finch, President of AVEVA Asia Pacific, said:
"With these contract extensions, Japanese shipbuilders have demonstrated the confidence shipbuilders have in our solutions; which provide efficient design, engineering and construction capabilities to more than 80% of the world's top 50 shipyards. With AVEVA marine solutions, shipbuilders reduce costs, accelerate timescales and maximise performance, rising above the challenges of a global economic slowdown."
About AVEVA Group plc
AVEVA Group plc is one of the world's foremost and fastest-growing lifecycle engineering IT solutions and services providers to the oil and gas, paper and pulp, power, chemical, pharmaceutical and shipbuilding industries. Listed on the London Stock Exchange (LSE:AVV), the Group reported pre-tax profits for the year ended March 2008 of GBP 45 million on revenues of GBP 127.6 million. The Group has grown consistently since 1967 on the strength of pioneering engineering technology that protects the information assets of its customers from the volatile nature of the IT industry.
The Group's history of innovation spans five decades and has produced most of today's major engineering IT technologies. Serving over 1700 clients, AVEVA has a dominant position in many market sectors both on and offshore. In May 2004, the Group acquired Tribon Solutions AB, the market-leading shipbuilding solution company. http://www.aveva.com
