REG-Kentz Corp Ltd Re Contract
Released: 05/06/2009
com:20090605:RnsE4131T
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RNS Number : 4131T
Kentz Corporation Ltd
05 June 2009
Kentz awarded contract by Saudi Polymers Company
London, 5 June 2009 - Kentz Corporation Limited (LSE: KENZ), the holding company
of the Kentz engineering and construction group, has been awarded the Electrical
and Instrumentation Scope by Saudi Polymers Company (SPCo) related to the
utilities and offsite works for its new NCP Project, in the Kingdom of Saudi
Arabia.
SPCo will construct and operate an integrated petrochemicals complex at
Al-Jubail that will include a world-class olefins cracker, and produce ethylene,
propylene, polyethylene, polypropylene, polystyrene and 1-hexene. Commercial
production is scheduled to begin in late 2011.
This is the seventh contract win this year for Kentz in Saudi Arabia, where it
has now been operating for over 30 years.
Ends
For further information please contact:
Evolution Securities Limited (Nomad)
Tel: +44 (0)20 7071 4300
Rob Collins
Tim Redfern
Powerscourt (Financial PR advisors)
Tel: +44 (0)20 7250 1446
Elizabeth Rous
Rob Greening
About Saudi Polymers Company
Saudi Polymers Company is a new limited liability company incorporated in the
Kingdom of Saudi Arabia created to execute the NCP Project. Saudi Polymers will
be initially owned 50 per cent by Arabian Chevron Phillips Petrochemical Company
Limited (ACP), a wholly-owned subsidiary of Chevron Phillips Chemical Company
LLC and 50 per cent by Saudi Industrial Investment Group (SIIG).
About Kentz
Kentz is a global engineering specialist solutions provider, which serves a blue
chip client base primarily in the oil and gas, petrochemical and mining and
metals sectors. It is listed on the AIM market of the London Stock Exchange
(symbol: KENZ). In the year ending December 2008, the company generated revenues
of $643.4 million and profit before tax of $40.7 million.
Kentz has over 10,000 employees in 23 countries. Its three main business lines
are; specialist engineering, procurement and construction (EPC) services,
construction, and technical support services. It has a proven track record of
delivering mechanical, electrical, controls and instrumentation engineering,
construction and management services in some of the most remote locations on
earth.
Kentz was recently awarded the 2008 AIM Award for Best Newcomer.
Please find further information on the Kentz website www.kentz.com
This information is provided by RNS
The company news service from the London Stock Exchange
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