SMT Scharf receives first order for new rack-and-pinion railway
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Hamm, May 14, 2008 - SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986), the technology and global market leader for rail-bound railway systems for the mining sector, has received its first order for its newly developed rack-and-pinion railway from Russia. This railway is tailor-made to transport great loads under particularly difficult mining conditions, and is characterized by its versatility: It can be used as both a rail-bound rack-and-pinion railway and also as a climbing aid for normal mine railways. In addition, it can be easily converted into a monorail hanging railway.
SMT Scharf presented this innovative train to the specialist public for the first time in November 2007 at the mining technology and equipment trade fair CHINA COAL & MINING EXPO 2007. In the meantime it has received all necessary licenses.
The customer will use the train in a hard coal mine in Russia, where it will be used, in particular, to transport heavy roof support units at inclines of up to 30 degrees. This customer already uses SMT Scharf´s monorail hanging railways in three of its mines.
This order, with a volume of slightly more than EUR 1 million, is a key step in growing SMT Scharf AG´s business: "We are very pleased that our newly developed rack-and-pinion railway has convinced our customers so quickly. That´s a positive sign - also for possible additional orders," commented Dr. Friedrich Trautwein, SMT Scharf AG´s CEO. "Russia was already our key growth market last year. We believe that this country offers further potential, and we plan to penetrate this potential even better with new products and our newly formed branch office."
Company profile
The SMT Scharf Group develops, builds and maintains rail-bound railway systems for mining and use in tunnels. The trains are used all over the world, primarily in hard coal mines, gold mines and in underground mining for platinum, diamonds, copper and nickel. They are used to transport material and personnel with working loads of up to 35t. Rail-bound trains are the only means of transport that can be used underground on branching lines to cope with inclines of more than 13 degrees. The SMT Scharf Group has subsidiaries in Germany, Poland, South Africa, China and Russia, as well as agencies around the world. The railways developed by SMT Scharf are characterized, above all, by high-performance engines, high working loads, high speed and low operating and maintenance costs. SMT Scharf records more than 70% of its revenues in high-growth foreign markets such as Russia, China and South Africa. The replacement parts and repairs business constitutes around 50% of revenues. The advances in exploitation of resources make underground conditions increasingly difficult which in turn requires more high technology transport solutions in mining. The total market for underground transport technology comprises around EUR 5 billion to EUR 7 billion per year according to company estimates. SMT Scharf AG has been listed in the Prime Standard (regulated market) of the Frankfurt Stock Exchange since April 11, 2007.
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Further inquiry note:
Contact
Investor Relations
cometis AG
Henryk Deter
Tel.:+49(0)611 - 205855-13
Fax: +49(0)611 - 205855-66
e-mail: deter@cometis.de
Branche: Machine Manufacturing
ISIN: DE0005751986
WKN: 575198
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse München / free trade