Mutares SE & Co. KGaA

Earnings Release • Apr 23, 2015

News Details

Corporate | 23 April 2015 08:57

mutares portfolio: EUPEC secures major order in Kazakhstan

mutares AG / Key word(s): Sales Result/Development of Sales

2015-04-23 / 08:57

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EUPEC, a subsidiary of mutares AG (ISIN: DE000A0SMSH2) specialised on coatings of oil and gas pipelines, managed to secure a major order in Kazakhstan of up to EUR 45m.

EUPEC signed a frame agreement with the North Caspian Operating Company (NCOC) for up to 200 km of pipe coatings with a value of 45m EUR. At present, 40 km of pipe coatings with a value of EUR 9m are already awarded. The remaining section of the project will be awarded in the second half of this year.

The pipeline is part of the development of the Kashagan field that is located in the Kazakh sector of the Caspian Sea and extends over a surface area of approximately 75 km by 45 km. The project represents a unique combination of technical and supply chain complexity. The combined safety, engineering, logistical and environmental challenges make it one of the largest and most complex industrial projects currently being developed in the sector.

Bernard Guisol, CEO of EUPEC, comments: “The award of the Kashagan project is a milestone for EUPEC. Today, it is probably the most challenging development in the oil and gas industry. The trust in our unique technological know-how makes us proud.”

After securing the major order for a field joint coating project in Nigeria by Saipem and Total at the end of 2014, EUPEC’s capacities in 2015 are now fully booked. The order pipeline for 2016 looks already very promising. Therefore, EUPEC expects significant growth in revenues and profitability.

Company profile of EUPEC

For more than 40 years, EUPEC has been providing reliable solutions for the “end-to-end” protection of steel pipelines on both onshore and offshore pipeline industries. EUPEC is global leader in the application of multi-layer anti-corrosion coating systems based on polyolefin. Since 1964, EUPEC has successfully completed thousands of kilometres of pipeline and related field joint coating around the world. Today, EUPEC is firmly established as a benchmark for the oil and gas markets. Meeting this need on an international scale, EUPEC provides the technical expertise and human resources to drive the industry forward, supplying innovative technology for safe, efficient and environmental-friendly coating systems.

Company profile of mutares AG

mutares AG, Munich (www.mutares.de), acquires companies, that are being sold in the course of a repositioning process at their owners and that show a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to achieve a clear value increase. The focus of the operational work is to ensure sustainable, long-term growth. The shares of mutares AG are traded in the Open Market of the Frankfurt Stock Exchange (Entry Standard) under the symbol MUX (ISIN: DE000A0SMSH2).

For further information, please contact:

mutares AG

Christoph Himmel

Investor Relations & Corporate Communications

Tel. +49 89 9292776-0

Fax +49 89 9292776-22

ir@mutares.de

www.mutares.de

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