Duro Felguera has reinforced its workload with a contract valued at 100 million euros for an industrial client in the Netherlands, which makes this award one of the most important that the group has achieved in recent years, marked by severe financial difficulties and financial.
According to the information sent to the National Securities Market Commission (CNMV), Asturian engineering will be in charge of the rehabilitation and repair of a Dutch industrial plant, belonging to a large company whose identity has not been communicated due to a confidentiality commitment between the parts. The term of execution of the works is one year and a half, and the project “includes detailed engineering, supplies, mechanical, electrical and refractory assembly.”
The management headed by Jaime Argüelles as CEO stressed that, with the award of this work, initialed on December 22, “the company manages to achieve the contracting objective foreseen in its viability plan” for 2021.
The announcement follows those of other recently known minor contracts that have strengthened the portfolio of “El Tallerón”, the heavy boilermaking plant that Duro Felguera owns in Gijón. The most recent of these contracts involves the manufacture of two cargo tanks for liquefied natural gas (LNG) with a capacity of 6,000 cubic meters each, commissioned by the German engineering company THE Marine Gas Engineering. The agreement includes the possibility for the two companies to collaborate in the future on more LNG-related projects. On December 17, another order for “El Tallerón” was also known: the manufacture of a washing tower for a petrochemical complex in Poland, agreed with Hyundai Engineering, from South Korea, and the Spanish company Técnicas Reunidas.
The improvement in hiring is in line with the objectives set by the Duro leadership to re-float the company, following having obtained a public bailout of 120 million euros, having restructured the debt with the creditor banks and having obtained from the latter a line of guarantees vital to access important awards.
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