Business Weekly - Cambridge, UK

AVEVA's software at work: Design by Hyundai Heavy Industries using AVEVA solutions

 The Cambridge-based firm, which recently released a trading update outlining strong trading across all of its sectors, has added two further contract wins for its marine engineering business.

The first, worth £4m alone is to equip a Japanese shipyard, which accounts for a massive seven per cent of the world's annual shipbuilding tonnage, with the company's Marine solutions.

"This reflects the success of our strategy to attract new customers with our engineering tools, which reduce costs, accelerate timescales and maximise performance," said President of the company's Asia Pacific division, Peter Finch.

The second deal is a multi-million dollar contract with one of Korea's leading shipbuilders, Hanjin Heavy Industries & Construction-Tech, Inc.

As a result of the contract, financial details of which were not disclosed, AVEVA will equip their new shipyard in the Philippines with AVEVA Marine solutions and AVEVA NET.

Hanjin has invested $720m constructing the shipyard in Subic Bay, Philippines, which will have a shipbuilding capacity of over 650,000 tons per year when it reaches completion in the second half of the year.

"We are sure that the efficiency at the high-tech Subic Dockyard will be further enhanced with the implementation of our solutions. Moreover, we are certainly proud that AVEVA's solutions will play a major role in the design and construction of the world's largest ship being built at Subic," said Finch.

"The new shipyard in the Philippines is based on our strategy to overcome growth limits because of limited space in our local shipyards," said ChoonBae Jeon, Manager of the Korean team.

"We will be adopting AVEVA Marine solutions and AVEVA NET which are effectively in use in our Youngdo, Ulsan and Masan shipyards in South Korea."

Shares in the company continue to see healthy growth in the current unstable climate, growing four per cent to 988p on the day.

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