ORIENTAL PRECISION & ENGINEERING CO., LTD

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Oriental Precision & Engineering proclaims New Vision 2015 Oriental Precision & Engineering proclaims New Vision 2015 July 2, 2012. Three hundred executives and employees of Oriental Precision & Engineering (“OPCO”) gathered together in the auditorium at OPCO’s Jinhae Factory to participate in the company’s “New Vision 2015” proclamation ceremony. The New Vision 2015 is about: a) raising the production output by 200 percent every year by the year 2015; b) achieving zero defects and zero accidents; c) becoming number one in the industry by building number one products; and d) successful conclusion of, and “early graduation” from, the workout process by 2015. At the ceremony, the Debt Consolidation and Financial Management Agency’s decision of granting OPCO a corporate workout program was announced to the employees. Park Sei-cheol, the Director of Corporate Workout Committee, explained before the OPCO executives and employees the current status and progress in the workout program, and OPCO’s Corporate Planning Office has presented new objectives which will help OPCO accelerate the transition into its new business goals. Mr. Suh, the CEO, asked everyone at the ceremony to give everything to achieve the goals by 2015 with a resolute determination and steadfastness. All men and women at OPCO will resolute determination and steadfastness to achieve these goals. Photo: The CEO gives a motivational speech Photo: OPCO employees display their support and affection for the company with a shout 2012-07-20 18173
OPCO wins 200-Million-Dollar Overseas Sales Award OPCO wins 200-Million-Dollar Overseas Sales Award December 14, 2011, on the 48th anniversary International Trade Day ceremony held at Hotel Lotte Busan, Mr. Sang-won Suh, the CEO and the President of Oriental Precision & Engineering (“OPCO”) received the “200-Million-Dollar Overseas Sales Award” as well as an industry merit award himself. Since the inception in 1980, OPCO has been specializing in the construction of marine superstructures, machine components, and offshore plant support vessels. These OPCO products are sold to shipbuilders and ship companies all over the world, including those in Japan, China, Vietnam, and Singapore. Since the company sold its first product to a shipbuilder in Japan, OPCO has won the One-Million-Dollar Overseas Sales Award in 1987; Five-Million-Dollar Overseas Sales Award; Ten-Million-; Thirty-Million-; Fifty-Million-; 100-Million-Dollar Overseas Sales Award in 1991, 1994, 2001, 2003, and 2006, respectively. With this year’s 200-Million-Dollar sales award, OPCO has won in total seven such awards—this is remarkable because the company has won the award in every administration since the Jeon Doo-Hwan administration in the 80s. For the first time in 2011, Korea’s annual international trade volume has exceeded one trillion dollars, and OPCO has certainly made a contribution to this breakthrough, especially when the world shipbuilding industry has recently suffering a distress. Slowing economy couldn’t stop OPCO to become the sixth Busan-based company to win the award. 110 million dollars, or roughly the 40 percent of OPCO’s last year total sales of 280 million dollars come from overseas export, and the company has recorded 202 million dollars in overseas sales from July of 2010 to June 2011, about 12% increase from the same period last year. Photo: Mr. Nam-shik Huh, the mayor of Busan (left) and Mr. Sang-won Suh (far right) at the International Trade Day ceremony. Photo: Mr.Suh receives the Industry Merit Award 2011-12-28 17044
OPCO participates in Marintec China 2011 OPCO participates in Marintec China 2011 November 29 through December 2 for two days Oriental Precision & Engineering (“OPCO”) has participated in Marintec China 2011, an international marine, shipbuilding, and ship technology fare held at Shanghai New International Expo Center (SNIEC), to demonstrate and market OPCO’s products and services. Marintec China has marked 15th anniversary this year, and for this year’s show the host organization has provided the show floor which was 45% larger compared to the last year’s, making this year’s show the biggest ever with 1,650 participating companies from thirty-one different countries. At OPCO’s booth the OPCO representatives were busy demonstrating to the visitors the superior quality of the company’s products, and many visitors stopped at the OPCO booth to inquire about the deck cranes and the accommodation work barges which OPCO is currently focusing its strength on. Yantai Oriental Precision & Engineering of China, OPCO’s Chinese branch, was also at the show to establish a close rapport with the clients in China, and also to raise the brand awareness internationally. Photo: Visitors at OPCO booth; the clients being briefed about OPCO products. Photo: OPCO booth 2011-12-28 17264
OPCO receives an order to build an offshore plant support vessel OPCO receives an order to build an offshore plant support vessel November 22, 2011. Oriental Precision & Engineering (“OPCO”) has received a US$1.52 million or KRW 17.4 billion order to construct an offshore plant support vessel from BHARATI SHIPYARD of India. The commissioned support vessel is a multi-function offshore plant support vessel which is used to handle the anchors of the plant, with the capacity to man 150 crew members. The ship can also support the offshore drilling activity, and has a diving pool in the center for deep-sea survey and diving. Last year, OPCO has completed the deliveries of two anchor handling tug supply vessels and a number of deck houses and hull blocks to BHARATI SHIPYARD. The ship ordered on November 2011 will be built in the Dalian facility by OMI, to be delivered to BHARATI SHIPYARD by December 2012. Photo: Contract signing at BHARATI SHIPYARD, November 21, 2011. 2011-11-24 16028
OPCO a 22 million-dollar shipbuilding contract OPCO a 22 million-dollar shipbuilding contract Oriental Precision & Engineering (“OPCO”) has won a 22 million-dollar deal on October 25, 2011 from Hyundai-Vinashin Shipyard Co. (“HVS”) For the contract OPCO will build the deck house, engine room casings, and funnels in its shipyard in Vietnam, and deliver them starting January of 2012. As a partner company of HVS, OPCO’s Vietnamese subsidiary has been building the deck houses for all of the ships built by HVS. OPCO will work hard to deliver quality products with strict quality control and cost-efficient production, to give its clients full satisfaction. OPCO’s Vietnamese subsidiary is located in Khanh Hoa Province, Vietnam. The company was established back in September 2008 with the capital of 11 million dollars, and it specializes in the construction of deck houses, engine room casings, and funnels. Photo: An OPCO-made deck house is being installed on the deck. 2011-10-31 13646

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