Toyo Engineering Corporation ('TOYO', President & CEO: Haruo Nagamatsu) announced that TOYO and MODEC, Inc. ('MODEC', President & CEO: Takeshi Kanamori) have executed today the agreement for the establishment of a joint venture company for the Engineering, Procurement, Construction and Installation (EPCI) business of Floating Production Storage and Offloading (FPSO) vessels.

The establishment of the joint venture company is subject to obtaining official permits and approvals of relevant authorities.

Contact:

Yoshifumi Shiraishi

General Manager

Corporate Communications Department

TEL: +81-47-454-1113

(C) 2022 Electronic News Publishing, source ENP Newswire