Corporate | 10 September 2008 10:23
Muehlhan AG / Miscellaneous/Miscellaneous
Announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Muehlhan in the Middle East: Superlative projects, high-value services
• Fire protection coatings on the world’s tallest building
• Contract for large-scale project ALDAR headquarters started
Hamburg, 10 September, 2008 – Following its takeover at the beginning of
the year of Procon Emirates LLC in Dubai and Abu Dhabi, Muehlhan AG (Entry
Standard; ISIN DE000A0KD0F7) is solidifying its position as a provider of
maritime and industrial protective coatings in the growth market of the
Middle East. The emirate Dubai is in the process of developing over the
long term from a regional economic center into a global growth region. 'The
construction activity in Dubai is not focused on size alone, even though
projects such as the Burj Dubai – the world’s tallest building – will
certainly set new standards. The most remarkable thing is the high level of
technical and organizational demands being placed on every company involved
in the construction,' says Dr Andreas Krueger, Chairman of Muehlhan's
Executive Board.
The specific challenge: for structural and engineering reasons, the floors
above the 150th story in the Burj Dubai will consist exclusively of a steel
framework with glass cladding. 'Our employees will apply the fire-proof
coatings to these steel sections at heights of over 600 meters and thus
will make a small, but significant contribution to the safety of the Burj
Dubai,' emphasizes Dr Krueger in describing the uniqueness of this
contract. The ultimate height of the building has not yet been announced
officially. However, it will quite likely reach a total height of over 800
meters and almost 190 floors.
Economic advancement and a new self-image for the people of the region are
finding expression not only in the constant expansion of the transportation
infrastructure, but also in more and more large-scale, world-class projects
that will shape the future skyline of Dubai. Thus, Muehlhan is currently
working at Dubai’s new cargo airport and at two stations of Dubai’s
newly-built subway; within these projects, Muehlhan expects additional
partial orders.
Additionally, work has started at the corporate headquarters for the
real-estate project developer ALDAR. This will be the first disk-shaped
office complex in the Middle East. The vertically standing spherical design
of metal and glass will also include the latest fire-proof coating
technology. This project represents yet another step in Muehlhan’s efforts
to expand its business and profitability in the growing economic region of
the Middle East. Overall, Muehlhan‘s coating capacities in the region have
almost doubled over the fiscal year 2008.
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 c/o Muehlhan AG, Phone +49 40 752 71 156, email:
Kaiser@muehlhan.com
10.09.2008 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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