EANS-News: Von Roll Holding AG
Major Contract from Canadian Network Provider
Hydro One
Au / Wädenswil, Switzerland (euro adhoc) -
- Contract for Von Roll Transformers amounting to US$16.6 million - Energy sector proves to be a stable growth market once again
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Company Information/Contracts
Subtitle: - Contract for Von Roll Transformers amounting to US$16.6 million - Energy sector proves to be a stable growth market once again
21 January 2010 - Von Roll, one of Switzerland's longest established industrial companies, has qualified to be one of the main suppliers of high-performance transformers to Hydro One Networks Inc., Toronto, Canada. The cooperation will span the next five years and will include a contract volume of at least USD 16.6 million.
Hydro One delivers electricity safely, reliably and responsibly to homes and businesses across Ontario and owns and operates Ontario's 29,000 kilometre high-voltage transmission network that delivers electricity to large industrial customers and municipal utilities. Moreover, Hydro One owns and operates a 122,000 kilometre low-voltage distribution system that serves about 1.3 million end-use customers and smaller municipal utilities in the province. Hydro One is wholly-owned by the Province of Ontario.
"The awarding of the contract is based on a long-standing and trustful business relationship with Hydro One. It confirms that Von Roll supplies transformers of the highest quality", says Thomas Limberger, Chairman of the Board of Directors and CEO of Von Roll Holding AG. "This contract is one more proof that the founding of the new segment, Von Roll Transformers, was an important strategic milestone and that Von Roll can compete at an international level."
The value-added chain and expertise of the Swiss industrial group were therefore decisively expanded to include one of the most promising and rapidly growing markets. Growth on the transformer market is driven by strong demand to upgrade and replace antiquated infrastructure, the push for greater efficiency on Western markets, and the need for new infrastructure in emerging markets.
About Von Roll Holding AG: As one of Switzerland´s longest established industrial companies, Von Roll Holding AG focuses on products and systems for power generation, transmission and distribution. Von Roll is the global market leader in insulation products, systems, and services and is represented in 19 countries with around 3,100 employees at 30 sites.
This press release is based on information currently available. Unforeseeable risks and influences may lead to discrepancies with statements portrayed here. Furthermore, rounding differences may lead to discrepancies in the reported figures.
end of announcement euro adhoc
Further inquiry note:
Corporate Communications
T: +41 44 204 3034, F: +41 44 204 3039, E: press@vonroll.com
Investor Relations
T: +41 (44) 204 3050, F +41 44 204 3008, E: investor@vonroll.com
Branche: Misc. Industrials
ISIN: CH0003245351
WKN: 324535
Index: SPI, Midcap Market Index
Börsen: SIX Swiss Exchange / official dealing