BAUER AG : BAUER Group expecting major contract to remediate the Mosul Dam in Iraq
BAUER Group expecting major contract to remediate the Mosul
Dam in Iraq
11/03/2011| 08:55am US/Eastern
Ad-hoc release in accordance with section 15 of the German
Securities Trading Act (WpHG)
Schrobenhausen, November 3, 2011- On November 3, 2011, an
affiliated company of BAUER AG (ISIN: DE005168108) signed a
Letter of Understanding with the Ministry of Water Resources
of Iraq in connection with the visit of Philipp Rösler,
Germany's Federal Minister of Trade and Industry, to Baghdad.
This document announces that the BAUER Group will be awarded
the contract for the Mosul Dam remediation project, subject
to further contractual details being agreed. The contract
could be finalized within the next few months. With a total
contract value equivalent to EUR 1.9 billion, and a scheduled
execution period of around six years, the technically
challenging project would be the largest yet undertaken in
the history of the BAUER Group.
The Mosul Dam on the River Tigris is in need of remediation.
It is located in the north of Iraq, approximately 70
kilometres from the Turkish border, and is the country's
ISIN: DE0005168108, Bloomberg B5A
Official Market / Prime Standard; Frankfurt Stock Exchange
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