Kvaerner today announced that it has signed a contract valued at approximately EUR 15 million with Teijin Twaron, one of the worlds largest producers of high performance fibres. The project entails the engineering, procurement and construction management services for a major capacity increase of Teijin Twarons spinning facilities at Emmen, in The Netherlands, representing an investment of EUR 100 million.
14 Mar 02
The project will increase Teijins annual Twaron® production in The Netherlands by 7,500 metric tons, to a total of 18,500 metric tons. The overall project also involves the production increase of monomers and polymers in Delfzijl, which, together with the spinning facilities in Emmen, takes the total investment by Teijin in The Netherlands to approximately EUR 200 million.
Kvaerner has already been involved in the project since early 2001, assisting in the finalising of the basic engineering together with a joint team of Teijin Twaron, Akzo Engineering and Kvaerner engineers. The fast-track project is scheduled for full completion in April 2003, and will be executed from Kvaerner E&Cs operations in Zoetermeer, The Netherlands. Activities on the construction site have already commenced to ensure the challenging schedule is achieved.
The award of this project to Kvaerner once again underlines Kvaerners leading position in the European market and the confidence of Teijin Twaron in Kvaerner to execute this important project.
For further information:
Paul Emberley, Vice President, Group Communications, Kvaerner ASA: +44 (0)20 7339 1035 or +44 (0)7768 813090
Samantha Voorvelt, PR Co-ordinator Benelux / Germany: +31 (0)79 3688 563 or
Caroline Mackay, Corporate Communications Manager, Teijin Twaron BV: 026 366 2030
Eiso Alberda van Ekenstein, Chief Strategic Planning Officer, Teijin Twaron BV: +31 26 366 2423 or http://www.twaron.com
Notes to editors:
Kvaerner is a world-class oil and gas services, engineering and construction, and shipbuilding Group, with the capability and resources to undertake the worlds most challenging projects. Todays Kvaerner is an industrial technology provider. It meets the needs of its customers by adding value to their business through the provision of innovative, cost-effective solutions for challenges in the hydrocarbons, process, and maritime industries. The Groups activities are organised in four core business areas: Oil & Gas, E&C (Engineering & Construction), Pulp & Paper, and Shipbuilding. Following the merger between Aker Maritime and Kvaerners Oil & Gas business, the Kvaerner Group expects to have revenues in 2002 approaching US$6 billion, with some 40,000 permanent staff located in more than 30 countries throughout Europe, Africa, Asia and the Americas.
The E&C business area of Kvaerner specialises in the provision of process technology, design, engineering, project management, procurement and construction to a number of industrial sectors on a worldwide basis: chemicals and polymers, pharmaceuticals, oil and gas, water, energy, nuclear, minerals, mining, steel and transportation. Kvaerners breadth of capability is unique among its competitors. It offers the complete range of services that are necessary to realise global projects from conception to start-up. These services include a portfolio of advanced process technologies, research and development, test work, a full range of engineering studies (including bankable feasibility and environmental studies), total project management, engineering and design, procurement, construction and maintenance services. Kvaerner E&C employs more than 9,000 people operating from over 30 offices worldwide.
Teijin Twaron is an international company that supplies customers throughout the world with para-aramid polymer, yarn, fiber, and pulp under the trade name Twaron®. These worldwide markets are served by our global sales and marketing network. The laboratories and technical service centres of Teijin Twaron are constantly improving the performance of our products and actively supporting our customers with the development of new products and application areas. Teijin Twaron is a member of the Teijin Group. Teijin is a global, technology-driven company, listed on the Tokyo Stock Exchange with a market capitalisation of USD 4.9 billion. It operates in five main business segments: fibers and textiles; films and plastics; pharmaceuticals and home health care; machinery and engineering and new products and other businesses, with an aggregate turnover of USD 6.1 billion. Teijin has approximately 23,000 employees worldwide.
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