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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Technip    TEC   FR0000131708


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TECHNIP : Awarded FEED Contract by The Mosaic Company for Proposed New Ammonia Plant in Louisiana

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01/03/2013 | 07:05am CET

Regulatory News:

Technip (Paris:TEC) was awarded by The Mosaic Company (NYSE: MOS) the front-end engineering and design (FEED) contract, as well as preparation of the corresponding engineering, procurement and construction (EPC) proposal, for a new ammonia plant under consideration by the global crop nutrient company. Mosaic's preference is to locate the proposed plant adjacent to the company's existing Faustina fertilizer manufacturing operations in St. James Parish, Louisiana. It would have a capacity of 2,200 metric tons per day.

Mosaic is the world's largest producer of finished phosphate products, with annual production capacity greater than the next two largest producers combined. The company's plan is to backward integrate more fully into ammonia production by expanding its present capacity at Faustina. Ammonia is an essential ingredient in the manufacture of phosphate-based crop nutrients.

The proposed design of the plant would feature Haldor Topsøe' proprietary ammonia process technology that Technip has successfully engineered and constructed in projects for more than 40 years. Technip will also perform the preliminary design work for the plant offsites, utilities, interconnections, and other supporting units for the facility.

Technip's operating center in Houston, Texas will execute the FEED contract in collaboration with its engineering center in Rome, Italy. The development of the FEED and corresponding EPC proposal began in November 2012; both are targeted for completion by mid-2013.

David Dickson, Technip's Senior Vice President, North America Region, stated: "Technip is delighted to have been awarded this contract together with our long-term, tier-one partner Haldor Topsøe. The proposed Mosaic ammonia facility would be one of the most modern and efficient in operation in the Americas. This award confirms once again the position of the team Haldor Topsøe/Technip as one of the recognized leaders in Ammonia Technology, as well as EPC services, in the U.S. and around the world."

° °

Technip is a world leader in project management, engineering and construction for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 32,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).

About The Mosaic Company

The Mosaic Company (NYSE: MOS) is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients for the global agriculture industry. With annual phosphate capacity greater than the next two-largest producers combined, Mosaic is the world's largest producer of finished phosphate products and operates a global distribution network of plants, port facilities, warehouses, and sales offices. The company employs approximately 8,000 people in eight countries and participates in every aspect of crop nutrition development. For more information, visit www.mosaicco.com.

Public Relations
Christophe Bélorgeot, +33 (0) 1 47 78 39 92
Floriane Lassalle-Massip, +33 (0) 1 47 78 32 79
Investor and Analyst Relations
Kimberly Stewart, +33 (0) 1 47 78 66 74
Apollinaire Vandier, +33 (0) 1 47 78 60 74

© Business Wire 2013
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P/E ratio 2017 18,92
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Average target price 60,6 €
Spread / Average Target -8,5%
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Thierry Pilenko Chairman & Chief Executive Officer
Julian David Waldron Group Chief Financial Officer
Pascal Colombani Independent Director
Gérard Hauser Independent Director
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