Corporate | 7 July 2008 08:22
Muehlhan AG / Alliance
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The Renewable Energies Act amendment opens up new wind power potential for
Muehlhan
• Opening of the world’s largest wind turbine tower coating facility
• First significant offshore wind power plant repair contract
Hamburg, 7 July 2008 – Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7), a
firm specialising in marine and industrial surface protection, reaps
benefits from the steady growth in demand for wind power generated energy.
Together with its American-Danish cooperation partner Hendricks Industries
Muehlhan has now commissioned the largest wind power plant coating facility
worldwide. The total investment in the plant amounted to EUR 15 million.
Muehlhan has contributed with technical equipment to the costs of the
installation.
The annual capacity of the plant, erected in Herning, Denmark, is 800,000
m². On three parallel production lines, up to 36 tower segments of a
maximum length of 45 m can be coated each week. 'We are glad to have
accomplished this decisive step together with Hendricks, and are convinced
that it will lay the foundation for other large projects in the wind power
sector', said Muehlhan AG Board of Directors’ Chairman Dr Andreas Krüger.
For Muehlhan, the total order volume for the project is EUR 45 million over
five years.
With the Renewable Energies Act amendment passed at the end of June and the
related increase in the remuneration for wind power generated energy, the
Company looks forward to a further rise in demand for services in the area
of wind turbine tower surface protection. In particular, it is expected
that the demand for larger and more complex steel construction offshore
wind power plants will increase considerably. New production capacities
will be developed worldwide to take advantage of these up to now barely
utilised application opportunities.
With its long experience in land based wind power plants, its research work
conducted in conjunction with the Fraunhofer-Institute and its offshore
expertise earned in oil rigs, Muehlhan is well equipped to operate in this
promising new market segment. 'In 2007 the total worldwide sales volume of
the wind power industry was of approximately EUR 21 billion. This also
represents a very large market for coating services, which will –amongst
other factors- continue to grow due to its offshore orientation', continued
Mr Krüger.
The importance of surface protection had initially been underestimated in
the construction of the previous generations of both land based and
offshore wind power plants. The result was a substantial need for touch-up
work: The Offshore Windpark Horns Rev contract is the first larger order
won by Muehlhan to refurbish parts of existing offshore wind power plants
off the Danish coast. The contract is expected to amount to EUR 900,000.
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, besides scaffolding for
marine and industry customers, 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 employs some 2,400
employees around the world. In 2007 the company generated revenue of EUR
196 million (IFRS). For further information visit
www.muehlhan.com.
Press contact:
Ties Kaiser
Muehlhan AG
Phone +49 40 752 71 156
email: kaiser@muehlhan.com
07.07.2008 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
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