Stock Exchange release May 20, 2005 09:02:45 AM CET
Metso to supply lime calcining plants to TISCO in China
Metso Minerals will supply three lime calcining plants to Tai Yuan Iron & Steel (Group) Co. Ltd. (TISCO) in China. The plants will be delivered to TISCO's Dongshan quarry, Tai Yuan City, Shanxi Province, and they are scheduled to start production in March 2006. The value of the order is not disclosed. The order was included in Metso Minerals' first quarter order backlog in 2005.
The delivery includes key equipment, process and equipment design, control system, inspection services, as well as installation and start-up assistance. Each lime plant has been designed to produce 1,000 tons of lime per day. With the total production capacity of 3,000 tons per day, the Dongshan quarry will become the largest single lime production facility in China.
The lime will be used by TISCO for steel making and in their sintering plant. The investment is part of TISCO's expansion project to increase its production of stainless steel by 1.5 million tons per year. The market for stainless steels continues to increase in China as more diversified consumer and high technology products are made in the country.
TISCO is China's largest stainless steel manufacturer and is among the world's largest producers of stainless steel. In 2004, TISCO's turnover was USD 3.5 billion.
Metso is the global leader for the supply of preheater lime calcining plants. The value of a lime calcining solution of this volume is generally over EUR 10 million.
Metso is a global technology corporation serving customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. In 2004, the net sales of Metso Corporation were approx. EUR 4 billion, and it has some 22,000 employees in more than 50 countries. Metso's shares are listed on the Helsinki and New York Stock Exchanges.