The power-engineering company Slovenske Energeticke Strojarne, a.s. (SES) Tlmace, producer and supplier of the energy industry, signed a contract for over SKK 1.5 billion on May 10 with the Japanese company Ebara Corporation, a subcontractor of German GmbH & Co. Hochst KG, the owner, administrator and energy supplier for the industrial park in Frankfurt am Main. The contract involves construction of three fluidized bed boilers for incineration of communal waste, each with a capacity of 109 tons an hour. According to the marketing director of SES, Viliam Petras, the boilers should be delivered in the first half of 2008, and the company plans to put them into operation in January 2009. Mr. Petras also said that this contracts is one of the first steps in meeting the intermediate goals of the company for 2008 to 2010, set after Segfield Investments became the new majority stake holder in SES Tlmace the autumn of last year.
SES Tlmace reported sales of its products and services at SKK 568.9 million in the first quarter of 2007, according to non-audited and non-consolidated results and calculated according to Slovak accounting standards. On production costs of SKK 775.7 million, up 76.7 percent, SES Tlmace generated Q1 added value of SKK 218.5 million. In Q1 2006 this was SKK 180.1 million. The power engineering company closed the first quarter of 2007 with a profit of SKK 38.6 million, while in the first three months of 2006, pretax profit reached SKK 25.3 million.
SES Tlmace produces, repairs and reconstructs equipment chiefly for power stations, and supplies fluidized bed boilers. In addition, it secures equipment supplies for the chemical, petrochemical and gas industry. In 2006, the company Segfield Investments, which is a member of the Slovak private equity J&T Finance Group, acquired a majority stake in the power engineering firm.
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