Muehlhan AG

Regulatory Filings • Mar 10, 2011

News Details

Corporate | 10 March 2011 08:38

Muehlhan AG wins million-dollar contract for luxury yacht

Muehlhan AG / Key word(s): Development of Sales/Contract

10.03.2011 / 08:38

Muehlhan wins million-dollar contract for luxury yacht
* Longest mega-yacht in the world
* Specialty Shipbuilding continues to strengthen
* Service portfolio expanded to fairing

Hamburg, 10 March 2011 - Muehlhan AG (Entry Standard, ISIN DE000A0KD0F7)
has received the contract for work on the construction of the world's
longest mega-yacht from a reputable Bremer specialty shipyard. The
million-dollar contract includes not only surface protection but steel
works as well. The yacht is 180 meters long and will be constructed at
three sites in Bremen. Overall Muehlhan will provide services for the
project over the next two and half years.

'The shipyard is one of the world's top names in mega-yacht building. We
are proud of our long-standing partnership, on which we are working
constantly, 'said Dr Andreas C. Krüger, CEO of Muehlhan AG.
Mega-yachts are part of the specialty shipbuilding, for which experts
predict a long-term future in Europe, different than the serial
construction of commercial ships. It is even more important for Muehlhan,
to add new skills to a business which has been established for decades.
In addition to the traditional crafts of surface protection as well as
steel construction and scaffolding, the fairing process is becoming
increasingly important for yacht building. This kind of surface finishing
gives the hull and superstructure of large yachts their high-quality
appearance. The high-gloss surface is produced by filling and sanding work,
and a special coating.
In The Netherlands, Muehlhan has recently been awarded with a fairing order
for a complete luxury yacht.
'We want to expand our good market position in the mega-yachts business
with services in fairing and high-gloss painting,' says Krueger, 'and thus
compensate for a part of the ship building business, which is sharply
declining in Europe since the beginning of economic and financial crisis.'

About Muehlhan:
The Muehlhan Group is a global specialist in high-quality surface
protection and industrial services. Our business divisions - Ship
Newbuilding, Ship Repair, Energy, Industry and Other Services - enable us
to provide a broad range of professional services to our maritime and
industrial markets. The excellent quality of our service, our high degree
of organization, our technical expertise and almost 130 years of experience
are what set us apart.
With our workforce of around 2,300 employees at more than 30 locations
worldwide, we generated preliminary sales revenues of EUR 165.0 million in
2010. In the years to come, we will utilize our market position as a stable
foundation for further expanding our business.

Press contact: Ties Kaiser, Muehlhan AG; Tel: +49 40 75271 -156 10 640,
e-mail: kaiser@muehlhan.com

End of Corporate News

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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, Hamburg, München, Stuttgart; Entry
Standard in Frankfurt

End of News DGAP News-Service

115044 10.03.2011