Company Announcement No. 11-2016:
FLSmidth has signed an EPS (Engineering, Procurement and Supervision) contract worth more than EUR 160m with the Russian marine export terminal owner OTEKO-Portservice LLC for the engineering, supply and supervision of material handling equipment. The equipment is to be installed at the port of Taman on the Russian Black Sea Cost, approximately 1,500 km south of the capital Moscow.
The order is part of the construction of a new cargo terminal to handle the increasing export of coal, iron ore, sulphur and fertilizers from production sites in Russia. Included in the scope of supply is: railcar unloading, screening and crushing, stockyard machines, ship loaders and associated conveyor systems including auxiliaries such as dust suppression or sampling.
"FLSmidth and Oteko have worked jointly on this project for a long time and have now found a technically and commercially viable solution that allows this project to go ahead despite the headwind from the commodity market. It is a good example of how customers can benefit from engaging with FLSmidth early in the development of a project. This order includes supplies and services from various FLSmidth business units and is particularly valuable in times with low capital investments in the mining and minerals industry," Group Executive Vice President of the Minerals Division Manfred Schaffer comments.
The order will be booked and executed by FLSmidth's Bulk Material Handling business unit in Wadgassen and contribute beneficially to capacity utilisation and earnings until mid-2018.
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Please address any questions regarding this announcement to Group Executive Vice President of the Minerals Division Manfred Schaffer, FLSmidth & Co. A/S at +45 36 18 18 00.
For further information about FLSmidth, please visit www.flsmidth.com.
Contact Investor Relations:
Pernille Friis Andersen, +4536181887, pefa@flsmidth.com
Nicolai Mauritzen, +4536181851, nicm@flsmidth.com
Contact Media Relations:
Sofie Karen Lindberg, +4530931877, skl@flsmidth.com