Conclusion of an agreement of assembly work on units 800 MW of the Westfalen Power plant in Germany with Amontex PM Sp. z o.o.
Publish date: 04.03.2009The Board of Energomontaż-Południe S.A. with its official seat in Katowice (the Issuer the Company) informs that on 3rd April 2009 the Issuer and his subsidiary entity Amontex Przedsiębiorstwo Montażowe Sp. z o.o. with its official seat in Piotrków Trybunalski (the Contractor) concluded an agreement of the assembly of ducts in two newly-built energy units D and E (800 MW each) in Westfalen Germany (information on the conclusion of the agreement whose subject was to perform the aforesaid assembly work by the Company was submitted by the Issuer in Current Report No. 12/2009 on 16th March 2009).
The Board of Energomontaż-Południe S.A. with its official seat in Katowice (the Issuer, the Company) informs that on 3rd April 2009 the Issuer and his subsidiary entity Amontex Przedsiębiorstwo Montażowe Sp. z o.o. with its official seat in Piotrków Trybunalski (the Contractor) concluded an agreement of the assembly of ducts in two newly-built energy units D and E (800 MW each) in Westfalen, Germany (information on the conclusion of the agreement, whose subject was to perform the aforesaid assembly work by the Company was submitted by the Issuer in Current Report No. 12/2009 on 16th March 2009). The value of the concluded contract is €13 million (which, after conversion acc. to the mean rate of € announced by NBP as of the day when the present report is submitted, corresponds to the amount of about PLN 57.8 million). The agreement shall be executed in the period from the first half of April this year to the end of 2010.
The agreement includes annotations concerning penalties in the case of delay in the performance of the negotiated scope of work. In the case when the deadlines defined in the time schedule and negotiations protocol are exceeded, which the Contractor is responsible for, the contractual fines shall be 0.75% of the agreement value, yet no more than 15% of the agreement value.
The value of the agreement exceeds 10% of the Issuer’s own equity, thus the agreement meets the criterion of a master agreement.
The concluded agreement shall remain without effect on the value of the Company’s order portfolio.
An estimated value of the Company’s order portfolio is about PLN 409.6 million (the portfolio includes export orders in the amount of €58.2 million) including that the order portfolio for 2009 is about PLN 295 million (the portfolio includes export orders made in 2009 in the amount of €30 million). The value of the portfolio was calculated on the basis of the rates of € accepted by the Issuer for order calculation.
SIGNATURES OF THE PERSONS REPRESENTING THE COMPANY
| Wojciech Nazarek | - President of the Management Board |
| Andrzej Hołda | - Vice President of the Management Board |