Corporate | 6 November 2007 08:34
Muehlhan AG / Contract/Alliance
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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Muehlhan subsidiary Muehlhan A/S expands wind energy business in Denmark:
• Long-term partnership with tower manufacturer Hendricks Industries A/S
until at least 2012
• Significantly increasing sales for Muehlhan A/S
• Subsidiary thus expands its position as outstanding surface protector in
the wind energy segment
Hamburg, Germany, 6 November 2007 – The growing demand for clean energy
from wind power continues to produce strong growth rates in this industrial
segment. Danish subsidiary Muehlhan A/S (MDK) of Muehlhan AG (Entry
Standard; ISIN DE000A0KD0F7) has already profited from this development in
the past and was able to assume the lead position in surface protection for
this segment through collaboration with renowned wind power plant
manufacturers. MDK will grow even more sharply in the future as it has now
acquired Hendricks Industries A/S as an additional business partner.
Already well-established on the market as a manufacturer of high-quality
tower segments in Denmark for over 25 years, Hendricks (previously Roug
A/S) wants to support its major customers – including Siemens Wind Power
A/S – on their course of expansion and meet the great demand for steel
towers. As an exclusive provider, Muehlhan DK will coat these partial
towers and coat them corrosion-resistant.
'As is customary in some of our other corporate divisions, Muehlhan will
set up and operate blasting and coating halls on site,' explains Muehlhan
Executive Board Chairman, Dr. Andreas Krüger. The cooperation with
Hendricks Industries initially encompasses Denmark and will run until 2012.
MDK is assuming annual sales of almost EUR 4.7 million for 2008. From 2009
onward, annual sales of approximately EUR 8.5 million are expected.
In general, the situation in the wind industry remains promising.
A current study by Deutsche Bank predicts a five-fold increase in worldwide
production capacities over the next seven years. They project that the
largest growth rates will be possible in China and India, with 25 percent
anticipated in the USA, where a new energy policy is expected to promote
the expansion of wind energy.
'Hendricks Industries A/S is part of the US-based Hendricks Group. Danish
know-how was recently exported to the USA and a large tower production
plant was constructed in Iowa. Through its collaboration in Denmark, our
company is likewise well-positioned for additional business in the USA over
the medium term,' states Dr. Krüger, when appraising the good opportunities
for Muehlhan. In case MDK should become active for Hendricks in the United
States as well, this could double the annual sales figures once more.
About Muehlhan:
The Muehlhan Group is a leading world provider of marine surface
protection. Its core business consists of applying and renewing corrosion
protection coatings to steel structures. They include steel surfaces of
ships and of oil and gas rigs and platforms. The Muehlhan Group is also
active in the Industry Services segment, which includes surface protection
for wind turbines, chemical production plants and fuel storage depots,
steel bridges, cranes and machinery. The company’s patented technology
brand-named μ-jet guarantees especially high quality and efficiency in
the removal of old coatings and rust, particularly in the open sea.
Muehlhan was established in Hamburg in 1881 and today employs some 2,300
people in 31 subsidiaries around the world. In 2006, the company generated
revenues of EUR 184 million (IFRS). For further information, visit
www.muehlhan.com
Media Contact:
Ties Kaiser
Muehlhan AG
Tel: +49-40-75271-156
Email: kaiser@muehlhan.com
06.11.2007 Financial News transmitted by DGAP
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Language: English
Issuer: Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Deutschland
Phone: +49 40 75271 0
Fax: +49 40 75271 130
E-mail: investorrelations@muehlhan.com
Internet: www.muehlhan.com
ISIN: DE000A0KD0F7
WKN: A0KD0F
Listed: Freiverkehr in Berlin, Hamburg, München, Stuttgart; Entry
Standard in Frankfurt
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