Muehlhan AG

Regulatory Filings • Mar 8, 2010

News Details

Corporate | 8 March 2010 08:39

Muehlhan AG is awarded additional ship newbuilding contracts

Muehlhan AG / Contract/Miscellaneous

08.03.2010 08:39

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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PRESS RELEASE

Muehlhan is awarded additional ship newbuilding contracts

Hamburg, 8 March 2010 - Despite the continuing crisis in the shipping
industry, Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7) has managed to
book two additional ship newbuilding contracts worth an estimated EUR 4
million.
In the USA, the company was awarded another contract for a U.S. Navy vessel
totaling approximately USD 3.8 million (EUR 2.8 million). The USS Anchorage
is a sister ship to the historically symbolic USS Arlington, which contains
reprocessed steel salvaged from the U.S. Department of Defense following
the 2001 attacks, and for which Muehlhan announced a contract a few weeks
ago.
In China, a Shanghai shipyard has commissioned Muehlhan to coat the cargo
holds of another Aframax-class tanker for a German shipping company.
The Ship Newbuilding segment has experienced a sharp downturn since the
onset of the economic crisis in 2008, especially in Europe. Muehlhan is
confident that its Asian and U.S. subsidiaries will be able to at least
partially compensate for this trend.

About Muehlhan:
The Muehlhan Group is a leading world provider of marine surface
protection. Its core business consists of applying and renewing corrosion
protection coatings to steel structures. They include steel surfaces of
ships and of oil and gas rigs and platforms. The Muehlhan Group is also
active in the Industry Services segment, which, besides scaffolding for
marine and industry customers, includes surface protection for wind
turbines, chemical production plants, and fuel storage depots, steel
bridges, cranes, and machinery. The company's patented technology
brand-named μ-jet(R) guarantees especially high quality and efficiency in
the removal of old coatings and rust, particularly in the open sea.
Muehlhan was established in Hamburg in 1881. For 2008 the company with its
some 2,500 employees around the world generated sales revenue of more than
EUR 206 million (IFRS). For further information visit
http://www.muehlhan.com

Press contact: Ties Kaiser c/o Muehlhan AG, Phone +49 40 752 71 156, email:
mailto:kaiser@muehlhan.com

08.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Deutschland
Phone: +49 40 75271 0
Fax: +49 40 75271 130
E-mail: investorrelations@muehlhan.com
Internet: www.muehlhan.com
ISIN: DE000A0KD0F7
WKN: A0KD0F
Listed: Freiverkehr in Berlin, München, Hamburg, Stuttgart; Entry
Standard in Frankfurt

End of News DGAP News-Service

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