Wison Engineering Succeeds in Securing the Largest Modularization Project in North America

On March 1, Wison Engineering Services Co. Ltd. ("Wison Engineering" or "Company") (Stock code: 2236.HK) is pleased to announce that Wison Petrochemicals (NA) LLC ("Wison Petrochemicals") (an indirect wholly-owned subsidiary of the Company), as contractor, was recently awarded a construction contract (the "Contract") for the modularization of the design and supply processes, bulk material procurement and on-site construction and installation for a petrochemical project ("Project") in Texas, the United States of America. The total consideration under the Contract is approximately US$360 million. The Project is expected to be delivered in the first quarter of 2020.

It is noted that the Project is currently the largest modularization project undertaken by a Chinese petrochemical engineering company in the USA. Leveraging on its extensive experience in modularization, Wison Petrochemicals will maximize the modularization of the design and supply processes, ensure the quality and safety of the Project, enhance installation efficiency, lowering costs and shorten installation time in order to provide the most economical solutions to the client.

In July 2017, Wison Petrochemicals successfully signed its first contract for the modularization of the design, construction, transportation and installation in North America. The Project is currently making good progress and is highly recognized and acclaimed by the project owner.

Ms. Vivian Li, Vice President of Wison Petrochemicals (NA) LLC, said, "We appreciate the trust and support rendered by the project owner. We will fully leverage our advantages as a Chinese enterprise while maintaining close communication with our client on module optimization. We will also work closely with the local construction contractor in the USA to deliver quality experience that exceeds customer's expectation by providing differentiated and high value-added services."