Malthus Canada Ltd. is now in full operation
11.11.2010

Ship No. 4 is now on its way to Canada. Malthus accommodation camp project for Vale Inco. has started. Close to 500 modules will be implemented and ready for use in February in 2011. The transport company DSV has been commissioned to transport the modules across the Atlantic. Three boats with a total of 350 modules arrived New Foundland in September. Another two boats with Norwegian modules is schedules to cross the Atlantic in October. Originally, the deliverables should be completed in summer 2010, but the project was delayed by Vale Inco. Malthus will have personnel in place in the project, however local contractors will perform the construction work.

Malthus has also moved into new premises in Paradise, and our new employee Darryl Kirby (Controller) is placed at Maverick Place, Paradise A1L 0J1, NL

The selected new board of Malthus Canada Ltd. consists of the following persons:

- Trond Hatlestad, Malthus (CEO)
- Orjan Gjerde, Malthus (CFO)
- Bruce C. Grand, (Lawyer)
- Moya Cahill, PanGeo Subsea Inc. (President)