Finmeccanica has been awarded a contract worth approximately USD 300 million

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Finmeccanica has been awarded a contract worth approximately USD 300 million Powered By Docstoc
					Rome, 20 April 2011


Finmeccanica has been awarded a contract worth approximately USD 300 million


Finmeccanica, through its company FATA, has been awarded by ARMCO (Aluminium Rolling Mill Co.)
the turnkey EPC (Engineering, Procurement and Construction) contract worth approximately USD 300
million for the aluminium rolling plant that will be located in Sohar, Oman.

At a cost of USD 385 million, this strategically important project will provide 275 direct jobs at full
production and will also generate many other jobs required to support the operation of the plant.

With an annual capacity of 160,000 tons, the facility provided by FATA will contain a Hazelett
continuous caster, while FATA Hunter, Division of FATA S.p.A., will supply a hot rolling mill along with
world-class cold rolling and finishing equipment. The rolling mill will serve the aluminium food
container and food preservation foil markets, along with material for the automotive heat exchanger
and air conditioning markets.

Under an Interim Agreement, FATA began the engineering works in January 2011. FATA estimates
the employment levels during construction will peak at approximately 1,200 persons. The mill is
uniquely positioned for the growing regional demand and sales are expected to reach international
markets as well. Ground-breaking will occur in July 2011 with the first production coils targeted for
August 2013. The project fits with the strategy of adding value to existing local raw material and
developing economically attractive downstream investments in Oman industries that in turn contribute
to creating sustainable employment, expand the local industrial network an well as increase and
diversify revenues for the local economy.




Finmeccanica plays a leading role in the global aerospace and defence industry, and participates in some of the sector’s biggest international programmes through its
group companies and thanks to well-established alliances with European and US partners. A leader in the design and manufacture of helicopters, defence and security
electronics, civil and military aircraft, aerostructures, satellites, space infrastructure and defence systems, Finmeccanica is Italy’s leading high-tech company. It also boasts
significant manufacturing assets and expertise in the transport and energy sectors; it is listed on the Milan stock exchange and operates via a number of group companies
and joint ventures. At the end of 2010, the Finmeccanica Group had around 75,200 employees, including over 42,500 in Italy, 11,900 in the US, 9,700 in the UK, 3,700 in
France, 3,400 in Poland and over 1,000 in Germany. Over 85% of the Group’s employees are based in our three “domestic” markets. As part of its drive to maintain and
build on its technological excellence, the Finmeccanica Group spends 11% of its revenues on research and development.

				
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Description: Finmeccanica, through its company FATA, has been awarded by ARMCO (Aluminium Rolling Mill Co.) the turnkey EPC (Engineering, Procurement and Construction) contract worth approximately USD 300 million for the aluminium rolling plant that will be located in Sohar, Oman.