Major service contract from Egypt for FLSmidth

FLSmidth (OMX: FLS) will reap revenues until 2019 from a service contract it announced today awarded to it by Egyptian National Cement Company (EGX: NCEM). The scope covers operation and maintenance of two production lines in Cairo, Egypt and is the largest such contract for the Danish company. Supple of spare parts and consumables, organizational development and employee training are also a part of the deal, the exact value of which wasn’t disclosed. The two production lines were originally supplied by German competitor KHD Humboldt Wedag International AG (FWB: KWG). FLSmidth is currently upgrading those lines to a capacity of 5200 and 3800 tonnes per day.