KBC Kbc Adv.Tech.

 

TIDMKBC 
 
RNS Number : 0052U 
KBC Advanced Technologies plc 
07 October 2010 
 

 
 
                                                                  7 October 2010 
 
                      KBC Advanced Technologies plc ("KBC") 
 
      $42 million Profit Improvement Program for Pemex Refinacion ("Pemex") 
 
                      Single largest award in KBC's history 
 
In our half-year results statement, released on September 14 2010, we 
highlighted that we were in the final stages of negotiating a large multi-site 
profit improvement project in Latin America. 
 
We are pleased to confirm that we have received a direct assignment from our 
client, Pemex Refinacion, of a Service Agreement with a value of $42m and 
duration of 30 months for a Profit Improvement Program for their six refineries. 
This award, which has been extended from an initial two sites to six sites 
earlier than anticipated, represents the single largest contract in KBC's 
history. 
 
The final contract is expected to be concluded by the end of this month. Work 
has started this week at the first two sites in order to commence interviews and 
gather data in preparation for the commencement of the contract. The assignment 
document we have confirms that this work will be reimbursed to KBC in accordance 
with the terms of the final agreement. 
 
The extension of this contract to all six sites will give us a significant 
increase in our backlog of work for 2011 as well as ensuring the anticipated 
improvement in our consultant utilization for the balance of the current year. 
 
George Bright, Chief Executive, commented: 
"The industry background of challenge and change offers KBC good opportunities 
to sell its consulting services and products. We are delighted with the award of 
this significant project with a long standing client. We look forward to working 
with Pemex over the next two years in delivery of the program goals." 
 
                                  -     Ends - 
 
For further information, please contact: 
 
+------------------+---------------+ 
| KBC              |               | 
| Advanced         |               | 
| Technologies     |               | 
| plc              |               | 
+------------------+---------------+ 
| George           |  01932 236314 | 
| Bright,          |               | 
| Chief            |               | 
| Executive        |               | 
| Nicholas         |               | 
| Stone,           |               | 
| Operations       |               | 
| and              |               | 
| Finance          |               | 
| Director         |               | 
+------------------+---------------+ 
|                  |               | 
+------------------+---------------+ 
| Cenkos           |               | 
| Securities       |               | 
+------------------+---------------+ 
| Jon              | 020 7397 8900 | 
| Fitzpatrick/Beth |               | 
| McKiernan        |               | 
+------------------+---------------+ 
|                  |               | 
+------------------+---------------+ 
| Weber            |               | 
| Shandwick        |               | 
| Financial        |               | 
+------------------+---------------+ 
| Nick             | 020 7067 0700 | 
| Oborne/Clare     |               | 
| Thomas           |               | 
+------------------+---------------+ 
 
Notes to Editors: 
For 30 years KBC's consultants have provided independent strategic and 
engineering expertise to enable leading companies in the global energy business 
and other process industries to manage risk while maximising value from their 
assets. 
 
In times of economic uncertainty and increasing environmental pressure, KBC's 
proprietary methodologies and innovative tools guide its clients' key strategic 
decisions, enabling them to prioritise and implement initiatives that maximise 
return on investment and improve operational performance. KBC offers Strategic 
and Market, Capital Investment, Operating, Organisational and Environmental 
Solutions. 
 
For more information, visit www.kbcat.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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