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OUTOTEC AWARDED CRISTAL GLOBAL'S MEGA SIZE ILMENITE SMELTER PROJECT IN THE KINGDOM OF SAUDI ARABIA
- melter project in the Kingdom of Saudi Arabia
OUTOTEC OYJ STOCK EXCHANGE RELEASE MAY 31, 2012 at 09.00 AM
Outotec awarded Cristal Global's mega size ilmenite smelter project in the Kingdom of Saudi Arabia
Outotec has agreed with Cristal Global, the second largest titanium dioxide pigment producer in the world, on the design and delivery of technology and services for new ilmenite smelting facilities to be located in Jazan Economic City, Saudi Arabia, as well as installation and construction of the plant on a pure turnkey basis. The overall contract value exceeds EUR 350 million, which will be booked in Outotec's second quarter order intake with the revenues recognized gradually over three years. The order supports Outotec's long term growth and profitability targets and does not affect the company's financial guidance for 2012.
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