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VEEM Ltd

First VEEM VG260SD Gyrostabilizer sold to Spain

VEEM Ltd (ASX:VEE) has sold its first VG260SD gyrostabilizer to the Spanish Friere Shipyard to be installed in a patrol vessel for the Government of Kuwait. The announcement follows confirmation from VEEM last week that it had signed a contract to supply its largest gyrostabilizer, the VG1000SD to Damen, Europe’s second largest shipbuilder. The VEEM Gyro VG260SD has been selected by Friere Shipyard as the roll stabilisation system for a 42 metre fisheries patrol vessel being built in Sp... More

VEEM Ltd

VEEM SECURES CONTRACT TO SUPPLY FIRST VG1000SD GYRO

Marine propulsion and gyro stabilization company, VEEM Ltd (ASX: VEE) (‘VEEM’ or ‘the Company’), is pleased to announce that Damen Shipyards (“Damen”) of the Netherlands has signed a contract which will see Damen take delivery of VEEM’s newest and largest gyrostabilizer model, the VG1000SD. The sale is subject to successful sea trials and Damen continuing the Fast Crew Supplier 7011 build program. Damen has been evaluating gyrostabilizer technology and its applicability to thei... More

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