Corporate | 9 January 2008 14:38
Muehlhan AG / Miscellaneous/Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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PRESS RELEASE
Service provider Muehlhan increasingly profits from steel construction
orders
• Barge for inland use delivered at the turn of the year
• Muehlhan also expects increased revenues in 2008 for steel construction
contracts
Hamburg, 9 January 2008. At the end of the fiscal year 2007, the Muehlhan
Group (Entry Standard, ISIN DE000A0KD0F7) completed an inland navigational
vessel of nearly 100 metres length. The modern carrier with double-hull
construction can both be loaded with containers or used for the transport
of bulk cargo, and is part of a push tow. Together with a second,
non-motorized hull segment of almost 80 metres in length, the ship will be
able to transport nearly 340 20-foot containers after being commissioned.
Muehlhan demonstrates its expertise with similar projects not only as a
professional surface protector, but also increasingly as service provider
in steel construction.
On this subject, the Chairman of the Executive Board Dr Andreas Krüger
says: 'We have also long had the necessary experience and competence to
perform complex steel work. We have our roots on the local shipyards and
have always been able to prove time and again in numerous projects that we
are also available as a reliable partner in this segment. Our customers are
increasingly interested to receive prefabricated components and speed up
their own production process. '
In 2007 Muehlhan was involved in repairing the oil tanker Nordic Hunter for
the Nordic American Tanker Shipping company, reinforcing numerous ship
segments with steel and welding work. Then the surface protection work was
performed. 'In this case, we performed our work so well that we were
commissioned to perform services for another ship of the same series in
2008,' said Dr Krüger.
Muehlhan was even able to win projects that have particularly high
standards of quality and precision. The construction of rollercoaster rail
segments for a Scandinavian amusement park represents a particular
reference for millimeter precision and materials reliability. Muehlhan was
also able to prove itself in new construction of high-quality luxury
yachts. The boom in this segment is also continuing unabated. 'Our
employees are currently finishing the entire hull together with deck
construction for a luxury class motor yacht of over 100 metres for a German
customer,' said Dr Krüger.
In fiscal year 2007, sales revenues in the amount of EUR 22.2 million are
expected in steel construction, whereby compared to the previous year an
increase of 37.8 percent would have been achieved. The prospects for 2008
are
excellent and suggest a further increase of these business activities.
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 over 30 subsidiaries around the world. In 2006 the company
generated revenues of EUR 184 million (IFRS). For further information visit
www.muehlhan.com
Press contact:
Ties Kaiser c/o Muehlhan AG
phone: +49-40-75271-156
email: kaiser@muehlhan.com
09.01.2008 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
End of News DGAP News-Service
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