Major Order from Petrochemical Company

27.04.2007 -

MAN Ferrostaal is at present carrying out a billion order for a manufacturer of petrochemicals. The company is erecting a plant complex for the production of urea ammoniac nitrate, ammoniac and melamine for Methanol Holdings Trinidad (MHTL). The complex consists of seven individual plants and represents an investment volume of 1.5 billion US dollars. The order value for MAN Ferrostaal amounts to 1.1 billion US dollars.

The realisation of the plant complex has great significance for MAN Ferrostaal and MHTL. With this order, both can achieve an extension to their product spectrum in the area of petrochemicals. If the activities were concentrated up to now on the production of methanol and ammoniac. Melamine and Urea ammonium nitrate represent a far higher level of refining, which contains greater added value. Melamine is an impact-proof, fire-resistant and watertight material, which is used above all for surface refining in the car and furniture industry. Kitchen work boards, for example, consist of melamine; it is also used in car paint as a protection layer. Urea ammonium nitrate is a fertiliser, which can be used without further processing in agriculture.

The extension of the product and market spectrum corresponds to the strategic aims of both companies, which are continuing their many years of intensive co-operation with the new plant. Since the erection of the first methanol plant in 1993, five further ammoniac and methanol plants have emerged up to now in Trinidad. In 2009, when the new plant complex will be finished, the number of the plants built in Trinidad by MAN Ferrostaal will grow to 13 - erected in just 16 years. With its plants, MHTL has risen to be the second biggest producer of methanol with an annual production of five million tons.

As a rule, MAN Ferrostaal regardless of any products and processes can use the best available technologies. For the new plant complex, the case is different due to the low number of licensed processes for the production of melamine. As the prerequisite for the economic construction of melamine plant, MAN Ferrostaal acquired the Luxembourg/Italian company Eurotecnica, still in 2006, a licence holder for the production of melamine.

With the new plant complex, MAN Ferrostaal continues a close co-operation with long-standing partners. Important engineering partners are Uhde and Toyo, the financing comes about with the aid of KfW and Hermes, the offtake of the products takes place in co-operation with Helm. MAN Ferrostaal is also an investor through participation in the operating company and therefore has a big interest in the reliable and economic performance of the plant. With this business model with which the general contractor becomes a partner, MAN Ferrostaal clearly differs from most of the competitors.

MAN Ferrostaal AG, Essen is the industrial service provider in the MAN group with 4,300 employees and a turnover of 1.4 billion euro (2006). With the "projects" and "services" divisions, MAN Ferrostaal serves customers worldwide in more than 60 countries. MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. The MAN group is one of the leading vehicle, engine and machine construction companies in Europe with annually around 13 billion euro turnover. MAN is a provider of trucks, buses, diesel engines, turbo machines and industrial services and employs worldwide around 50,000 employees. The MAN company divisions hold leading positions in their markets. MAN AG, Munich is quoted on the German Share Index, the DAX, of the 30 leading German public limited companies.

About MAN Ferrostaal AG:

MAN Ferrostaal is a worldwide supplier of industrial services for the construction of large-scale industrial plants and machine supply. As a general contractor for plant construction, the company offers project development, project management and financing solutions for turnkey plants in the areas of solar thermal power plants as well as biofuels, petrochemical and industrial plants. In ccoperation with manufacturers of machines and production lines, MAN Ferrostaal offers sales and services in the areas of automotive industries, print and packaging, piping, ships and transport solutions. With 4,200 employees MAN Ferrostaal is represented in more than 60 countries. The company achieved a turnover of EUR 1.4 billion in 2007.

MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. The MAN Group is one of Europe’s leading manufacturers of engineering equipment and vehicles, generating annual sales of around EUR 16 billion. MAN supplies products, systems and services to the capital goods industry and employs approx. 55,000 people worldwide. The core areas operated by the MAN Group, Commercial Vehicles, Industrial Services, Diesel Engines and Turbomachines, all hold leading positions in their markets. MAN is a member of the DAX German Share Index, Germany’s top 30 public limited companies.