BUSINESS
10/11/2011 08:33 EDT | Updated 12/11/2011 05:12 EST

ProSep gets $2.7 million contract for water injection system

MONTREAL - ProSep Inc. (TSX:PRP) says it has won a contract to design and supply a water injection system for a floating energy production, storage and loading vessel in South East Asia.

The contract, announced Tuesday, is valued at $2.7 million and delivery of the equipment is slated for the second half of next year.

The company, which provides process equipment and services to the oil and gas industry, said the deal is in a new line of business.

"We recently hired a team of seasoned engineers and business development professionals to expand our offering and improve our customer reach," said said Jacques Drouin, president and CEO of the Montreal company.

"This award marks a significant success of this new strategy."