OUTOTEC OYJ PRESS RELEASE MARCH 11, 2015 at 1:00 PM
Outotec and Mikheevsky terminate the long-term operation and maintenance contract in Russia
Outotec agreed in 2013 with ZAO Mikheevsky GOK, a subsidiary of Russian Copper Company, a six year service contract for the operation and maintenance of the Mikheevsky copper concentrator in Chelyabinsk, Russia. The contract was announced on January 14, 2013. Due to the changes in Mikheevsky's production strategy and business processes, the parties have now agreed to terminate the current long-term service contract and concluded a new frame contract for spare parts supply and technical services. Typically, the value of this type of contract is annually a few million euros. The arrangement does not impact Outotec's financial guidance for 2015.
Mikheevsky has bought the equipment and ICT systems invested by Outotec for the project as well as Outotec's spare parts available at the site. Part of Outotec's service employees have also been employed by Mikheevsky.
For further information please contact:
Adel Hattab, President - EMEA region
Tel. +358 40 751 7368
Kalle Härkki, President - Minerals Processing business area
Tel. +358 20 529 2901
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198